Sunday, May 19 2024 | Time 04:15 Hrs(IST)
Business Economy

Torrent Group commits Rs 5000 cr towards philanthropy over next 5 years

New Delhi, Mar 31 (UNI) Celebrating the birth centenary of its founder, Uttambhai N Mehta, the Torrent Group has announced a donation of Rs 5,000 crore over the next 5 years for social causes, focussing on the areas of Healthcare, Education & Knowledge Enhancement, Ecology, Social well-being, Arts & Culture and other activities that may serve the basic premise to benefit the underprivileged.
The Mehta family will, over the next 5 years, commencing on April 2024, donate a sum of Rs 5,000 crores to the UNM Foundation. This contribution will be over and above the statutory Corporate Social Responsibility (CSR) contributions of the Torrent Group companies, a company statement said.
“The UNM Foundation will make sincere endeavours to utilize this amount for unique social causes; without any beneficiary barriers of caste, religion, gender and economic strata,” Samir Mehta, Chairman of the Torrent Group, said on the occasion to celebrate the birth centenary of the founder, UN Mehta, in Ahmedabad.
Torrent Group is an Indian multinational conglomerate based in Ahmedabad, and the core businesses of the Group are gas, pharmaceuticals and power.
U N Mehta is remembered for his strong resolve in the face of adversities, business acumen, principled life, and humanitarian philanthropy.
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