Ratan Tata Will Distribution: Ratan Tata’s Will Reveals who will Inherit his Estate
Ratan Tata’s will, which has recently come to light following his passing in October 2024, outlines the distribution of his substantial estate, valued at approximately ₹3,800 crore. Here are the key details regarding the beneficiaries and the provisions included in the will:
Philanthropic Focus: The majority of Tata’s wealth is allocated to charitable causes through the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. This reflects his commitment to philanthropy, as these organizations are dedicated to charitable efforts.
Family Inheritance:
Half-Sisters: One-third of his financial assets, estimated at ₹800 crore, is divided between his half-sisters, Deanna Jejeebhoy and Shireen Jejeebhoy.
Close Associate: Another one-third of the estate is bequeathed to Mohini M. Dutta, a former employee of Tata Group and a close associate of Ratan Tata.
Specific Allocations:
Ratan Tata has also made provisions for his staff, allocating over ₹3 crore among them. This includes significant amounts for long-serving domestic workers and specific bequests such as ₹1 crore for his cook and ₹10 lakh for his secretary.
No-Contest Clause: A notable feature of the will is a ‘no-contest clause,’ which stipulates that any beneficiary who contests the will will forfeit their inheritance. This clause aims to prevent disputes among beneficiaries and ensure that Tata’s wishes are respected.
Probate Process: The executors of the will, including lawyer Darius Kambatta and close associates, have filed for probate in the Bombay High Court. This legal process will validate the will and is expected to take around six months before the estate can be distributed according to Tata’s wishes.
Ratan Tata’s will emphasizes his philanthropic legacy while ensuring that his close family members and loyal staff are also taken care of.
Ratan Tata’s will, executed before his passing in October 2024, outlines the distribution of his significant estate. Here’s a summary of what has been reported:
Majority for Charity:
A substantial portion, estimated to be around ₹3,800 crore to ₹10,000 crore, will go to charitable organizations, primarily the Ratan Tata Endowment Foundation (RTEF) and the Ratan Tata Endowment Trust (RTET).
Family and Close Associates:
Half-sisters: His half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, will inherit a significant portion of his residual estate, including bank deposits and potentially other assets like cars and paintings.
Mohini M Dutta: A former Tata Group employee who was close to Ratan Tata, will also receive a notable share of his residual estate.
Brother: His brother, Jimmy Naval Tata, will receive a share of his Juhu-based bungalow.
Mehli Mistry: A close friend, will inherit his Alibaug property and three firearms.
Staff and Helpers:
Long-serving staff: Over ₹3 crore has been allocated to his home and office staff. Domestic servants who have worked for him for seven years or more will receive a share proportionate to their service.
Specific bequests: His long-time cook Rajan Shaw will receive over ₹1 crore (including a loan waiver), his butler Subbaiah Konar will receive ₹66 lakh (including a loan waiver), and his secretary Delnaz Gilder will receive ₹10 lakh.
Other staff: Other staff members like part-time helpers, car cleaners, peons, and his Alibaug bungalow caretaker will also receive specific amounts. Loans extended to some staff members and a neighbor have also been waived.
Other Beneficiaries:
Shantanu Naidu: His executive assistant will have his student loan waived.
RNT Associates: His land in Seychelles will go to this Singapore-registered fund, with instructions to protect the interests of R Venkatraman and Patrick McGoldrick.
Executors: The executors of his will (his two half-sisters, Mehli Mistry, and Darius Khambata) will each receive ₹5 lakh for their efforts.
Pets:
Tito: His German Shepherd, Tito, will receive ₹12 lakh for his care, with ₹30,000 to be disbursed quarterly. Tito will remain under the care of his cook, Rajan Shaw.
Other Directives:
Clothes: His clothing will be donated to NGOs for distribution to the underprivileged.
No-contest clause: The will includes a “no-contest clause,” meaning any beneficiary who challenges the will could forfeit their inheritance.
Funeral expenses: The will specifies that funeral and obsequial expenses should be covered by the estate.
Legal Process:
The executors of the will have filed a petition with the Bombay High Court to probate the will, a legal process to validate its authenticity.
It’s important to note that the exact figures and details might vary slightly across different reports, but the general outline of the distribution remains consistent. The majority of Ratan Tata’s wealth is earmarked for charitable purposes, while also ensuring the well-being of his family, close associates, and loyal staff.
