Tata Sons board approves internal committee report regarding the company secretary.

The board of Tata Sons Ltd. today evaluated and approved the conclusions of a three-member internal committee, which determined that Company Secretary Suprakash Mukhopadhyay did not intentionally violate the group’s code of conduct, nor did he pursue personal benefit at the company’s cost, as per sources familiar with the situation.

Mukhopadhyay faced criticism for supposedly urging an ex-colleague to either join or invest in Divinion Advisory, a wealth management company associated with his wife and daughter. The company comprises various ex-Tata employees and collaborates with experts like chartered accountant T. P. Ostwal, whose firm has formerly partnered with Tata Sons. Auditors from Divinion have likewise worked for subsidiaries of Tata Consultancy Services. According to media sources, Mukhopadhyay reached out to several Tata executives to seek investment in the firm.

In response to these accusations, Tata Sons formed a committee to look into the issue. The panel determined that Mukhopadhyay, a veteran of the Tata group, did violate the Tata group’s Code of Conduct, but this breach was neither deliberate nor intended to achieve personal benefits at the company’s cost.

Mukhopadhyay, who stepped down in November 2024, remains active on an extension. The board meeting today included a thorough discussion of the report, and the panel’s conclusions were approved.

The board additionally examined Tata Sons’ financial performance for the year ending March 2025, based on sources familiar with the situation. Furthermore, the discussion included details on the forthcoming initial public offering (IPO) of Tata Capital Ltd., its financial services unit, planned for later this year. The meeting also addressed Tata Sons’ stake in the rights issue of Tata Projects Ltd., along with performance reports on major group companies such as Air India, Tata Digital, and several unlisted divisions.