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