The inclusion of Mohini Mohan Dutta, 74, in the will of the late industrialist Ratan Tata, has puzzled insiders. The former chairman of the Tata Group and Tata Trusts passed away on October 9, 2024. His will has not yet been probated, notes The Times of India (ToI) of February 27, 2025. His residual estate, with bank deposits exceeding Rs 350 crores, includes expected proceeds from auctioning personal belongings such as paintings and watches.
Ratan Tata: issues over will
Photo: Jasmine D. Driver
As some members of the Tata family do not want a public spat over the will, "the executors have been in talks with former Chief Justice of India, Sharad Bobde, to arbitrate in the matter,” reported Business Standard (BS) on February 8. While the exact amount of the settlement to Dutta remains unclear, media reports suggest that one-third of Tata’s wealth has been designated for him (Dutta), with the remainder being distributed between Tata’s half-sisters Deanna and Shireen Jejeebhoy. Noel Tata, the current chairman of Tata Trusts and half-brother of Ratan along with other family members, are excluded from the will. Both Deanna and Shireen are executors of the will along with the Tata Trusts’ trustees Mehli Mistry and Darius Khambata, stated BS.
Ratan’s sisters will receive the remaining two-thirds of the residual estate, while his primary assets, including shares in Tata and non-Tata firms, have been bequeathed to the two foundations he established, reported ToI.
Dutta reportedly first met Ratan "in Jamshedpur at the Dealers’ Hostel” when Ratan was 24. "He helped me out and really built me up,” Dutta told journalists at the industrialist’s funeral, as reported in ToI. Theirs was a close connection spanning 60 years, he claimed. Dutta started with the Taj and later his entrepreneurial venture Stallion Travel Agency was merged in the Taj’s travel division. It was subsequently sold to Thomas Cook (India) and now operates as TC Travel Services. Dutta continues to remain a director. Sherene Vakil