Latest news with #AsahiLegal

Business Standard

No-contest clause in Ratan Tata's will raises questions on legal validity

A no-contest clause is designed to discourage beneficiaries from disputing the terms of a will, but inheritance laws in India do not explicitly recognise or prohibit such clauses Ishita Ayan Dutt Bhavini Mishra Kolkata/New Delhi Listen to This Article The inclusion of a 'no-contest' clause in Ratan Tata's will has caught the attention of India Inc, prompting a wave of interest among promoters of listed companies and business families. Legal advisors and estate planners are seeing a noticeable uptick in queries, as wealthy individuals look for ways to shield their legacies from courtroom battles. The clause, which disinherits any beneficiary who contests the will, is a common feature in western estate planning but remains largely unfamiliar in India. Amit A Tungare, managing partner at Mumbai-based law firm Asahi Legal, said the clause is 'exceptionally rare' in Indian testamentary practice.