Mohini Mohan Dutta, a former director at the Taj Hotels group and a close associate of Ratan Tata, has agreed to the terms of the late industrialist's will, which gives him one-third of Tata's residual estate, which is estimated to be worth around Rs 588 crore, according to reports.
Key Highlights:
Mohini Mohan Dutta accepted Ratan Tata's will, inheriting assets valued at ₹588 crore.
The wealth allocation marks a notable aspect of Ratan Tata’s estate planning and legacy distribution.
With Dutta's agreement in place, the executors of the will can now proceed more quickly to obtain probate from the Bombay High Court. According to ToI's report (by Reeba Zachariah), Dutta, 77, was the only one of nearly two dozen beneficiaries of Tata's Rs 3,900-crore estate to express concerns about the value of his bequest.
The remaining residual estate, excluding real estate and shareholdings, will be divided equally between Tata's two half-sisters, Shireen Jejeebhoy, 72, and Deanna Jejeebhoy, 70, who also serve as executors of the will.
Although Dutta initially expressed concerns about the distribution, a "no-contest" clause prevented him from legally contesting the will, according to ToI. This clause ensures that any heir who disputes the will loses their entitlement.
On March 27, the executors petitioned the High Court for probate. The court has since ordered them to issue a public notice and seek objections from any heirs who have not given their consent. Furthermore, an originating summons was filed on April 9 to move the proceedings forward (see graphic).
Dutta is the only person not descended from the Tatas to receive such a large share of the estate, according to the will. He attempted to view some valuable items left to him, including a Ganesh idol, but was denied access to Tata's Halekai property in Colaba, according to a source. According to the source, the estate's executors continue to have control over these assets.
Once the High Court grants probate, Dutta will be exempt from estate duty because inheritance from a will is not taxable under Indian law.
Dutta and Tata had a more than 60-year relationship. Dutta recalls their first encounter at the Dealers Hostel in Jamshedpur when he was 13 and Tata was 25. He later relocated to Mumbai and lived at Tata's Bakhtawar home in Colaba. Dutta has publicly credited Tata with shaping his personal and professional life.
He began his professional journey at the Taj group's travel desk. He founded Stallion Travel Services in 1986, with funding from Tata Industries. According to the memorandum, Dutta's official residence at the time was Bakhtawar. Tata Group companies were then directed to use Stallion's services for their travel requirements.
In 2006, Stallion was merged into a Taj Hotels subsidiary, and Dutta was appointed director of the new company, Inditravel. Throughout his tenure at Taj, he was one of the highest-paid executives. Tata Capital acquired the travel services division in 2015, which it later sold to Thomas Cook India in 2017.Dutta remained a board member until 2019, when the company was consolidated under Thomas Cook.
