The Mehta family has committed to donate Rs 5,000 crore over the next five years to the UNM Foundation to honor the legacy of the visionary philanthropist, the group said in a statement.
The Mehta family of pharma-to-energy Torrent Group has pledged to donate Rs 5,000 crore over the next five years to the philanthropic foundation set up in the name of the group's founder, UN Mehta, as part of his birth centenary celebrations. the group said on Sunday.
Torrent Group celebrated the birth centenary of its founder, the late Uttambhai Nathalal Mehta (January 14, 1924 to March 31, 1998).
The Mehta family has committed to donate Rs 5,000 crore over the next five years to the UNM Foundation to honor the legacy of the visionary philanthropist, the group said in a statement.
The Rs 5,000-crore Mehta family pledge to donate to the UNM Foundation for the next five years starting April 1, 2024 will "exceed the statutory CSR contributions of Torrent Group companies," the statement said.
"UN Mehta, the founder of Torrent Group, is remembered for his steadfast determination in the face of adversity, his business acumen, his principled life and his humanitarian philanthropy. His early life was marked by multiple personal challenges, severe financial crises, business failures and serious health problems. complications," he said.
He was born into an extremely poor family and lost his mother when he was only two years old.
He overcame many health challenges, such as being diagnosed with mental health issues when he was 39 due to side effects from a medication he was prescribed; He was diagnosed with an extremely rare form of cancer at the age of 53 and the onset of heart problems eventually led to bypass surgery when he was 62 years old.
He failed in his first attempt to start a business and had to return to his town for many years.
"He overcame each of these challenges and finally, at the ripe old age of 48, succeeded in his second attempt at establishing a pharmaceutical business. In view of his own adventure with psychiatric and cardiac health problems, his initial efforts focused on manufacturing of medicines for psychiatric and cardiac diseases, for which medicines were not easily available in India at that time.
"His extraordinary life serves as a ray of hope for people who have lost all hope in life," he said.
Apart from being a highly successful businessman, Mehta was also a committed social citizen. Towards the end of his life he created the UNM Foundation and channeled his efforts toward multiple social causes.
The Torrent Group celebrated its birth centenary at an event in Ahmedabad on Saturday.
Torrent Group Chairman Samir Mehta said, "UNM Foundation will make sincere efforts to utilize this amount for unique social causes, without barriers of caste, religion, gender or economic stratum for the beneficiaries."
He said that the UNM Foundation will focus its efforts on the areas of health, education and improvement of knowledge, ecology, social well-being, art and culture, and other activities that can serve as a basic premise to benefit the less fortunate.
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First published: Mar 31 2024 | 4:25 PM IS
