The Connection Question

Is there a connection between Divinion Advisory Services, a wealth management firm owned by Suprakash Mukhopadhyay's family, and the Tata Group? Mukhopadhyay serves as company secretary of Tata Sons and works closely with chairman N Chandrasekaran.

Initial Listing and Subsequent Disclosures

Tata Pension Management initially listed Divinion as one of 471 Tata Group companies when it began operations in August 2022. However, subsequent disclosures in 2023 and 2024 only mentioned Mukhopadhyay's role as company secretary.

Leadership and Ownership

Divinion's leadership includes former Tata Group executives: Hormuz Bulsara (ex-Tata Asset COO) as CEO and Adil Busha (former Tata Pension director) as CFO. Its board comprises S Mahalingam, former TCS CFO, and TP Ostwal, whose firm audits Tata Sons and assists Tata Trusts with income tax matters.

Divinion's ownership is equally divided among Mukhopadhyay's wife Paromita and daughters Shreemoyee and Shreenandini (33.34% each). Shreemoyee worked at Divinion, where she started a long-short hedge fund, before pursuing an MBA at Wharton in August 2023, showed her profile on the Wharton website. While Shreenandini works with Darius Khambata’s chambers, a Tata Trusts trustee.

Regulatory Settlements

In May 2024, Divinion Advisory, Divinion Alternative Fund, CEO Bulsara, and vice president Sandip Basu (former Tata Steel treasurer) settled a securities law violation case with Sebi for Rs 11.25 lakh. The move followed after Sebi accused the four of violating its AIF regulations.