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Ratan Tata’s will raises eyebrows as THIS associate gains over ₹500 crore. See who and why
Ratan Tata's recently opened will has raised eyebrows as a non-family, but close associate has gained ₹500 crore inheritance from the late, beloved industrialist. See who this associate is, and why Tata favoured him.
Ratan Tata's recently opened will has raised eyebrows as a non-family, but close associate has gained ₹500 crore inheritance from the late, beloved industrialist, according to a report by the Economics Times.
Mohini Mohan Datta, who hails from Jamshedpur and was the co-owner of Stallion travel agency, which later became a part of Taj Group of Hotels under the Taj Services arm. He was not known by many, but close to Ratan Tata. He has been bequeathed over ₹500 crore in residual assets, as per the report.
Who is Mohini Mohan Datta?
According to the ET report, Dutta and his family owned 80 per cent stake in Stallion, which was merged with Taj Services in 2013. Tata Industries owned the remaining 20 per cent stake in Stallion. Besides this, Dutta was also a director of TC Travel Services (formerly associated with Thomas Cook) and was known to be in Ratan Tata's closest circles, which included family members, the report said citing insiders.
It citied insiders say that at Tata's funeral in October 2024, Dutta told mediapeople he met Ratan Tata when the industrialist was 24 at the Dealers' Hotel in Jamshedpur and had known each other for 60 years since. Datta was also reportedly invited to Ratan Tata's Birth Anniversary celebrations at the NCPA in December 2024.
The report added that one of Datta's daughters worked at Taj Hotels, and then at Tata Trusts for nine years till 2024.
Datta did not respond to queries, as per the report, while Ratan Tata's will executors — half sisters Shireen and Deanna Jejeebhoy, close friend Darius Khambata, and Melhi Mistry all did not comment, it added.
What Does Ratan Tata's Will Say?
As per Ratan Tata's will, a third of the business titan's residual assets are left to Dutta, which may well exceed ₹500 crore in value, the ET report noted.
The will is likely to be distributed only after undergoing probate and being certified by the High Court, the report added. The process is likely to take six months at least, experts told the paper.
What Could Be Part of The Endowment?
Before his demise, Ratan Tata set up the Ratan Tata Endowment Trust and Ratan Tata Endowment Foundation to distribute the inheritances. The former Chairman Emeritus' wealth included a direct 0.83 per cent stake in Tata Sons, which the report estimated to be around ₹8,000 crore; stake in various start-ups, investments including ₹186 crore in RNT Associates — his personal investment company, expensive art work including paintings, and luxury assets such as Maserati cars, it added.
Ratan Tata's total net worth is yet unclear as valuation at current market value is not yet completed, as per the report.
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Business NewsNewsIndiaRatan Tata’s will raises eyebrows as THIS associate gains over ₹500 crore. See who and why
First Published:7 Feb 2025, 08:38 AM IST
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