Ratan Tata’s Will Sparks Mystery: ₹500 Crore Bequest to Unknown Businessman Mohini Mohan Dutta

Ratan Tata, a man known for his private nature, was expected to leave behind a well-thought-out will, reflecting his commitment to philanthropy, family, and legacy.

However, what caught everyone off guard was a Rs 500 crore bequest to a relatively unknown figure, Mohini Mohan Dutta.

Dutta, a businessman from Jamshedpur, has reportedly been left over Rs 500 crore, as per The Economic Times.

This unexpected inclusion has sparked curiosity, given that Ratan Tata, who passed away in October 2024, was famously discreet about his personal matters.

Tata’s will also provided for his siblings, his butler Subbiah, and even his beloved German Shepherd, Tito. The former Chairman of Tata Sons passed away on October 9, 2024, at the age of 86.

Who is Mohini Mohan Dutta?

Mohini Mohan Dutta, now in his 80s, first met Ratan Tata in the early 1960s at the Dealers’ Hostel in Jamshedpur. At the time, Tata was just 24 years old and beginning his journey in the family business. According to reports, this meeting had a lasting impact on Dutta’s life.

Dutta’s career has remained closely tied to the Tata Group. He began with the Taj Group before founding Stallion Travel Agency. Eventually, his company merged with Taj Services, a division of the Taj Group of Hotels, in 2013.

Initially, Tata Industries held an 80% stake in the business before Tata Capital acquired and later sold it to Thomas Cook (India).

Dutta continues to serve as a director at the rebranded TC Travel Services and holds shares in Tata Group companies, including Tata Capital, which is gearing up for a stock market listing.

Beyond business, Dutta’s relationship with Ratan Tata appears to have been deeply personal. According to a report by ToI, he was regarded as “more than an associate, an adopted son,” though Tata never legally married or had children.

Dutta’s daughter has also been associated with the Tata Group, having worked at Tata Trusts for nearly a decade after starting her career at Taj Hotels.

He was a guest at Ratan Tata’s birth anniversary event at the NCPA in Mumbai in December 2024, an occasion attended only by Tata’s closest associates.

What Did Mohini Mohan Dutta Inherit?

As per The Economic Times, Dutta has been bequeathed one-third of Ratan Tata’s residual estate. This includes bank deposits exceeding Rs 350 crore and proceeds from the sale of Tata’s personal belongings, such as paintings and watches.

However, Dutta believes his inheritance is worth Rs 650 crore, a figure that differs from the executors’ estimates.

The remaining two-thirds of Ratan Tata’s residual estate have been left to his half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy. The will is being executed by Tata Trusts trustees Darius Khambata and Mehli Mistry, along with Tata’s half-sisters.

Notably, Ratan Tata’s half-brother, Noel Tata, and his children were not included in the will. Meanwhile, Tata’s brother Jimmy Tata was allocated Rs 50 crore.

Disputed Inheritance and Legal Procedures

Ratan Tata’s will, which was disclosed about two weeks after his passing, has yet to undergo probate proceedings in the Bombay High Court, a process expected to take at least six months.

Although Dutta has accepted the one-third share, his expectation of Rs 650 crore has raised concerns among some Tata stakeholders, given that a formal valuation is still pending.

Concerns Over Beneficiary Allocations

Observers within Tata circles have noted that while some family members were excluded from the will, an external individual receiving a significant share has raised questions.

Alongside Tata’s half-sisters, Tata Trusts trustees Darius Khambata and Mehli Mistry are named as executors of the will.

A Long-Standing Relationship with Ratan Tata

Dutta’s association with Ratan Tata dates back over six decades. At Tata’s funeral, he reflected, “We first met in Jamshedpur at the Dealers’ Hostel when Ratan Tata was 24. He helped me out and really built me up.”

Dutta initially worked with Taj before launching his own venture, Stallion Travel Agency, which later merged with Taj’s travel division. Tata Capital acquired and subsequently sold the business to Thomas Cook (India).

Now operating as TC Travel Services, Dutta remains a director and holds shares in various Tata Group companies, including Tata Capital, which is preparing for an IPO.

Ratan Tata’s Estate and Philanthropic Legacy

Tata’s will allocated his stakes in Tata Sons to the Ratan Tata Endowment Trust. His other assets included a beach bungalow in Alibaug, a two-storey house in Juhu, fixed deposits over Rs 350 crore, and a stake in Tata Sons.

Despite speculation surrounding Dutta’s inheritance, Tata insiders emphasize that his estate was structured primarily to benefit philanthropic causes and trusted associates.

The will and accompanying codicil confirm that Tata never married or legally adopted any children.