Ratan Tata's Will Gains Key Approval from Close Confidant for ₹588 Crore Share

A significant development has emerged concerning the will of the late industrialist Ratan Tata. Mohini Mohan Dutta, a close confidant of Ratan Tata and former director of the Taj Group of Hotels, has agreed to the conditions laid out in Tata’s will, according to a report by The Times of India. The will allots one-third of Tata’s residual estate—valued at approximately ₹588 crore—to Dutta.

With Dutta’s consent, the executors of the will are now better positioned to proceed with obtaining probate (legal validation of the will) from the Bombay High Court. Among the over twenty beneficiaries named in the will, 77-year-old Dutta was the only one to have expressed concern regarding the value of his share.

The remaining two-thirds of the residual estate—excluding real estate and shareholdings—has been bequeathed to Ratan Tata’s sisters, Shirin Jejeebhoy (72) and Diana Jejeebhoy (70), who are also serving as executors of the will.

Despite his disagreement with the executors over the valuation of his inheritance, Dutta could not formally challenge the will due to a “no-contest clause.” As outlined in the report, this clause stipulates that any beneficiary contesting the terms of the will risks forfeiting their entire inheritance.

The executors filed a petition for probate on March 27. The Bombay High Court directed them to issue a public notice requesting objections, if any, from legal heirs who had not provided their consent. On April 9, the executors also submitted originating summonses, the legal mechanism used to resolve matters related to the will and its beneficiaries.

Notably, Dutta is the only beneficiary outside the Tata family to receive such a substantial share of the estate. He had requested access to examine several valuable items, including a Ganesh idol that was bequeathed to him. However, entry into Tata’s residence at Halekai in Colaba was denied. According to the report, all of Tata’s personal possessions are currently under the control of the executors. Dutta will not be liable for any estate tax following the grant of probate, as India does not levy taxes on inherited assets.

Dutta shared a personal and professional relationship with Ratan Tata spanning over sixty years. He recalled first meeting Tata at the age of 13, when Tata was 25, at the Dealers Hostel in Jamshedpur. He later moved to Mumbai and resided at Tata Bhaktavar residence in Colaba. “He was the one who brought me to this stage,” Dutta reportedly said, reflecting on Tata’s influence on his life.

Dutta began his career at the Taj Travel Desk and, in 1986, with the support of Tata Industries, launched Stallion Travel Services. In 2006, Stallion was merged with a subsidiary of Taj Hotels, forming the new entity Inditravel, where Dutta was appointed director. He was among the highest-paid executives in the Taj Group. In 2015, the travel business was transferred to Tata Capital and was eventually sold to Thomas Cook India in 2017. Dutta continued on the board until the business was merged into Thomas Cook in 2019.

The “no-contest clause,” also known as the in terrorem clause, is commonly included in wills or trusts to discourage beneficiaries from initiating legal disputes. Under this clause, any beneficiary who challenges the validity of the will and loses may forfeit their inheritance. Its main objective is to deter unwarranted or disruptive legal challenges.