The distribution of Ratan Tata's estate may be the subject of a dispute because the late industrialist's confidant and former Tata Group employee Mohini Mohan Dutta expects a sizeable portion. But according to a report, his expectations are allegedly at odds with the assessments made by Tata's will executors.
A third of the remaining estate, which includes bank deposits exceeding ₹350 crore and the proceeds from the sale of personal belongings like watches and paintings, is supposed to go to Dutta, 74, in accordance with the will. After Ratan Tata passed away in October 2024, his half-sisters, Shireen and Deanna Jejeebhoy, who also act as executors of his will, will receive the remaining two-thirds. The majority of Tata's key assets, including his stake in Tata and non-Tata companies, have been left to his two foundations.
According to the report, Dutta believes his inheritance should be around ₹650 crore, despite accepting only one-third of the share. This estimate has alarmed some Tata shareholders, as a formal valuation of the estate is still pending, and his share is unlikely to reach that amount. The report stated that the will has yet to go through probate proceedings in the Bombay High Court.
Concerns about beneficiary allocations
Observers within Tata circles noted that family members such as half-brother Noel Tata and his children were not included in the will. However, brother Jimmy Tata was allocated assets worth ₹50 crore. Meanwhile, some stakeholders have questioned the claim of a third party seeking a larger settlement. Along with Tata's half-sisters, Tata Trusts trustees Darius Khambata and Mehli Mistry are named executors of the will.
Mohini Dutta's connection to Ratan Tata
Dutta first met Ratan Tata in Jamshedpur, which sparked a long-standing relationship. Tata's support for Dutta's career and business ventures stems from their bond.
"We met in Jamshedpur at the Dealers' Hostel when Ratan Tata was 24."He helped me out and really built me up," Dutta said at Tata's funeral in October 2024, reflecting on their six-decade relationship.
Dutta first worked for Taj before starting his own business, Stallion Travel Agency, which later merged with Taj's travel division. Tata Capital then purchased and later sold the company to Thomas Cook (India). Dutta, who now runs TC Travel Services, is still a director and has shares in several Tata Group companies, including Tata Capital, which is preparing to go public.
Veteran Tata insiders recall Dutta frequently presenting himself as Ratan Tata's adopted son.However, Tata's will and accompanying codicil clearly state that he never married or legally adopted any children.
