"Prepared by three Tata Sons executives, the report has concluded that Mukhopadhyay's actions "do not appear to be an intentional breach of the Tata code of conduct". Listed companies face penalties from Sebi for disclosure failures.Some Tata executives confirmed investing in Divinion after being approached by Mukhopadhyay's daughter through her father, without knowing his connection to the firm.The report was shared with all Tata Sons board members. Though this is an internal Tata Sons matter, Tata Trusts as the largest stakeholder, has the heft to weigh in. Other trustees and Tata Sons board members remained silent about their investment status in the fund.Divinion, established in Dec 2020, manages assets worth more than Rs 90 crore. His firm audited Divinion in FY21 and Tata Sons in FY23 and FY24.

Source: The Times May 28, 2025 03:05 UTC