Mohini Dutta, Only Non-Family Member In Ratan Tata's Will, Agrees To Receive Rs 588 Crore
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The beneficiary had reportedly raised concerns about the property's valuation and declined the will. However, a clause warned that challenging it would forfeit all benefits
In a significant development, Mohini Mohan Dutta—named the only non-family beneficiary in the late Ratan Tata's will—has accepted its terms, paving the way for smoother execution.
According to the Times of India, Dutta, a former director of the Taj Hotels Group, was initially hesitant and had declined to accept the will, reportedly due to concerns over the valuation of the estate. However, a clause in the will stated that any challenge to its provisions would result in forfeiture of all benefits. Following a court summons to all parties involved, Dutta has now agreed to the conditions.
As per the will, Dutta is entitled to one-third of Tata's residual estate, estimated to be worth around Rs 588 crore. The total value of Ratan Tata's estate is estimated at Rs 3,900 crore, with the remainder to be distributed among several beneficiaries, including his step-sisters, Dina and Shirin Jeejeebhoy, who also serve as the executors of the will.
According to the report, Ratan Tata's will names around 24 beneficiaries, including 77-year-old Mohini Mohan Dutta. The estate mentioned does not include immovable properties or shares.
The total inheritance, estimated at around Rs 1,764 crore, includes bank deposits, foreign currency, precious crystals and artifacts. Dutta's share amounts to approximately Rs 588 crore, along with over one lakh shares of Tata Capital, currently valued at more than Rs 10 crore.
The report states when Dutta declined to accept the terms of the will, other beneficiaries had approached the court to initiate the execution of the will, prompting the court to issue summons to all involved parties and ask them to present their views.
Dutta will not be required to pay tax on the Rs 588 crore he receives from the estate, as property inherited through a will is exempt from taxation under Indian law.
Dutta's association with Ratan Tata dates back to their first meeting in Jamshedpur, Jharkhand, when Tata was 25 and Dutta was just 13. Tata later invited Dutta to Mumbai, where he helped him set up a travel agency. The agency was eventually merged with Tata Capital and went on to manage operations for the Taj Group. Dutta served as a director in the Taj Group until 2019, after which the agency was sold to Thomas Cook.
First Published:
May 19, 2025, 13:41 IST
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