2024-04-02 17:13:11
New Delhi: Billionaire brothers Sudhir and Sameer Mehta have pledged to donate Rs 5,000 crore to various social causes on Sunday, on the birth centenary of their father and Torrent Group founder. With this, Mehta has joined the category of those billionaires who have dedicated a large part of their wealth to philanthropy. “This contribution will be in addition to the statutory CSR contribution of the Torrent group of companies,” a release from the pharmaceutical-to-power venture said. The donation will be managed by the UNM Foundation to promote health care, education, ecology and the arts. The Mehta family derives a large part of its wealth from Torrent Pharma, the flagship company of the $5 billion group. The release said that they will donate Rs 5,000 crore, or about $600 million, to the UNM Foundation for five years from April 1. Will start donating. His father Uttambhai Nathalal Mehta (UNM) founded the group in 1959. This year was when Bajaj Auto acquired the license from the Indian government to manufacture two and three wheelers and when Doordarshan was launched in India.
Let us tell you that Torrent Group is an Indian multinational group, which is based in Ahmedabad. It was founded by Uttambhai Nathalal Mehta. And it is now run by his sons, Sudhir and Sameer Mehta. The group’s main businesses are gas, pharmaceuticals and power.