Divine Advisory Service Pvt. Ltd. was founded in 2022 by Suprakash Mukhopadhyay, a close associate of Natarajan Chandrasekaran, secretary of Tata Sons group company and chairman Natarajan Chandrashekaran. In 2022, Tata Pension Management Limited listed Divyan as one of the 473 ‘Tata Group and Sponsors’ companies. Tata Pension Management is supported by Tata Asset Management Limited, where Mukhopadhyay is a director.
On contact, Tata Pension Management said the disclosure was mistakenly done.
Kurian Jose, Chief Executive Officer of Tata Pension Fund, said, “Divine advisory services are not part of the Tata Group nor are sponsored by Tata Pension Fund. Divine advisory services appear under a disclosure of Tata Pension Fund, August 2022, which is wrong, and we will correct the list as soon as possible.” Divyang is not mentioned in post -Tata pension revelations in 2023 and 2024, but only Mukhopadhyay’s name in his role as the company’s secretary.
A former Tata group executive said that 61 -year -old Mukhopadhyay had approached him to join or invest in Divine.
A former Tata Executive Officer said on the condition of anonymity, “Mukho (Mukhopadhyay) reached me a few months ago, asking how I should see to join the Divinion board or invest in the divine because they promise me to give some X returns.” “I told him that I have not given money to the best fund managers of the country, and so do not agree to invest my money.”
Tata Sons says that none of the group companies have trade transactions with divine.
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A Tata Sons spokesperson said, “We want to clarify that there is no commercial relationship between Tata group companies and any of the divine advisory services.” “Additionally, Tata Pension Management Limited or any other Tata company is not a sponsor of divine advisory services.”
The spokesperson did not comment on the Tata Pension Management Listing Diving as part of the Tata group in 2022. The spokesperson did not comment on whether Mukhopadhyay revealed to the Tata Sons Board whether his family members had a money-management company, and whether their demand from the former Tata group employees forms a violation of the Tata Code.
The TATA Code of Conduct states that there is a conflict of interest for an employee of the TATA group when an employee is “by taking or impressing any transaction related decisions, personally or for a member of any family or for any person to receive an unfair advantage for any person.”
However, an executive of a Tata Sons said on condition of anonymity, Mukhopadhyay made all the revelations, without clarifying that if he had sought approval from the Tata Sons Board.
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According to a Divinee’s filing with the Ministry of Corporate Affairs, Mukhopadhyay’s daughter Shremeyi and Mother Paromita have 50% when each company has 50% when it was installed. In FY24, Suprakash’s youngest daughter Shuranandini joined as a shareholder. Paromita, Shremoi and Shreenndini had 100% disability at the end of March 2024. Shremoi resigned in June 2023 as Chief Executive Officer and as a director in March 2024. According to the latest share ownership information, Paromita, jointly with his two daughters, with every 33.34%, each sister, jointly, jointly, jointly, jointly, sisters, jointly, jointly, jointly, jointly, jointly, jointly.
In August 2023, Dinenian appointed Hormuz Bullsra, former Chief Operating Officer of Tata Asset Management as CEO. Former Chief Financial Officer of Tata Consultancy Services Limited S. Mahalingam joined its board in August 2022, and is one of its three directors. Adil Burgor Busha, a former director with Tata Pension Management, was appointed CFO in October last year.
Emails to Mukhopadhyay and Shremoi were unanswered.
Tata Group Principal holding company Tata Sons owns shares in 26 listed companies, including Tata motors Ltd., Tata Steel Limited and Tata Consultancy Services Limited, and were cumulatively revenue of over $ 165 billion at the end of March 2024. Tata sons owned 65.9%by Tata Trusts, 12.87%by Half a dozen Tata group companies, and 18.4%by The Mystery Family.
“Good corporate governance principles require undivided meditation of KMP (major managerial personnel) for their businesses and any external engagement, either being approved by the board, either directly or indirectly,” V. Balakrishnan said, a former Chief Financial Officer of Infosys Limited and the founder of an venture Capital Fund, a former Chief Financial Officer of Infosys Limited. “This is to protect the brand for employers with complete commitment of KMP as well as involvement with unexpected activities.”
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In 2021, the Divinion Advisory Services established the Divine Alternative India Fund, a SEBI-regulated alternative India Fund. This fund invests in equity. Divine jumped from revenue Up to 40.9 lakhs in 2023 1.94 crores in 2024. It reported net profit Compared to loss of 43.72 lakhs last year 1,630 in 2023.
Mukhopadhyay joined the Tata group in 1988 before going to Tata Sons in 2000. He moved to TCS in 2008, a year later Chandrasekaran took over as its COO. After steering to TCS as CEO between 2009 and February 2017, Chandrasekaran was assigned as the Speaker of Tata Sons. Chandrashekaran’s first executive was elected from the Tata group, who joined the Tata Sons in April 2017.
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