**Tata Sons’ Ownership Structure and Controversy Over Divinion Advisory Services**
Tata Sons, the primary holding entity of the Tata Group, holds shares in 26 publicly traded companies. The ownership breakdown reveals that Tata Trusts owns 65.9%, six Tata Group companies collectively own 12.87%, and the Mistry family holds 18.4%. In a notable incident in 2022, a Tata Group company listed Divinion Advisory Services Pvt. Ltd, a firm associated with family members of a Tata Sons executive, as part of the group. However, this reference was removed a year later.
Divinion Advisory Services was established in 2022 by Suprakash Mukhopadhyay’s daughter, who is the group company secretary for Tata Sons and a close associate of chairman Natarajan Chandrasekaran. Initially, Tata Pension Management Ltd included Divinion in a list of 473 companies identified as ‘Tata Group and sponsor’ firms. Tata Pension Management is supported by Tata Asset Management Ltd, where Mukhopadhyay serves as a director.
Upon inquiry, Tata Pension Management clarified that the inclusion of Divinion was an error. “Divinion Advisory Services is not part of the Tata Group nor sponsored by Tata Pension Fund. The mention of Divinion in our August 2022 disclosure was incorrect, and we will rectify the list promptly,” stated Kurian Jose, CEO of Tata Pension Fund. Subsequent disclosures in 2023 and 2024 omitted Divinion, only mentioning Mukhopadhyay in his official capacity.
A former Tata Group executive revealed that Mukhopadhyay had approached him regarding potential involvement with Divinion, suggesting investment opportunities with promised returns. “Mukho (Mukhopadhyay) reached out to me a few months ago asking how I could join the board of Divinion or invest in it, as they promised significant returns,” the former executive shared, preferring to remain anonymous. “I declined, as I have not invested with the country’s top fund managers.”
Tata Sons has stated that no group companies engage in business transactions with Divinion. A spokesperson emphasized, “There has been no business relationship between any Tata group companies and Divinion Advisory Services. Furthermore, Tata Pension Management Ltd or any other Tata company is not a sponsor of Divinion Advisory Services.” The spokesperson did not address the earlier listing of Divinion by Tata Pension Management or whether Mukhopadhyay disclosed his family’s ownership of the wealth-management firm to the Tata Sons board, raising questions about potential conflicts of interest under the Tata Code of Conduct.
**FAQ**
**Q: Is Divinion Advisory Services part of the Tata Group?**
A: No, Divinion Advisory Services is not part of the Tata Group, and its earlier listing as such was a mistake by Tata Pension Management.
