In a noteworthy case involving the estate of the late industrialist Ratan Tata, Mohini Mohan Dutta, a trusted aide and former director in the Taj group of hotels, has accepted a ₹588 crore inheritance, Times of India reported. This development follows his formal consent to the terms of Tata’s will, after initially expressing reservations about the valuation of his share.
Dutta stands out among the nearly 2 dozen beneficiaries of Tata’s will, being the only 1 outside the family to receive a substantial portion of the estate. He was bequeathed one-third of the residual estate, excluding immovable properties and shareholdings. The remaining two-thirds were left to Tata’s half-sisters, Shireen and Deanna Jejeebhoy, both of whom are also the executors of the will.
Read More: Ratan Tata: Celebrating the Legacy of a Visionary Entrepreneur on His 87th Birthday.
Initially, Dutta raised concerns regarding the valuation of his inheritance. The executors filed a petition for probate on 27 March, following which the Bombay High Court ordered a public notice inviting objections from non-consenting heirs. Dutta’s consent was subsequently recorded, clearing the way for the grant of probate and the execution of the will.
A defining feature of the will is the inclusion of a no-contest clause. This clause barred beneficiaries from challenging the terms of the will. Any attempt to do so would result in forfeiture of the inheritance. Although Dutta disagreed with certain aspects, the clause effectively deterred any formal legal challenge.
Dutta also sought access to some personal items from the estate, including a Ganesh idol. However, he was denied entry to Ratan Tata’s Halekai residence in Colaba, where the estate’s items are held. The executors currently maintain custody of these effects. Despite this, Dutta did not pursue the matter further once he accepted the will’s terms.
With Dutta’s consent on record, the process of securing probate from the Bombay High Court is expected to proceed without further delay. There are no tax implications for Dutta, as inheritances are not subject to tax in India.
Dutta’s relationship with Tata goes beyond the confines of the corporate world. Their association began in Jamshedpur when Dutta was 13 and Tata was 25. Over the years, Tata played a mentoring role, even providing Dutta a place to stay in his Colaba residence. Dutta later established Stallion Travel Services with support from Tata Industries, eventually rising to become a prominent executive in the Tata Group.
Stallion Travel Services, founded in 1986, merged with a subsidiary of Taj Hotels in 2006. Dutta was appointed director of the merged entity, Inditravel, and became one of the highest-paid executives within the group. In 2015, the business was transferred to Tata Capital, and in 2017, it was sold to Thomas Cook India. Dutta continued to serve on the board until 2019, when the business was fully integrated.
A no-contest clause, also known as an in terrorem clause, is a legal provision included in wills to deter challenges. It stipulates that any beneficiary who contests the will and loses may forfeit their entitlement. Such clauses are intended to discourage unnecessary disputes and uphold the testator’s intentions.
The case of Mohini Dutta and Ratan Tata’s will reflects how a carefully drafted estate plan, underpinned by long-standing personal trust and clear legal safeguards, can ensure smooth succession even in complex and high-value situations.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: May 20, 2025, 1:46 PM IST
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