Ratan Tata's estate: Confidant Mohini Dutta's ₹650 cr claim raises concern

As Ratan Tata's estate goes for legal approval, confidant Mohini Dutta's Rs 650 crore claim - higher than his allocated share - raises valuation concerns among Tata insiders

A dispute may be brewing over the distribution of Ratan Tata's estate, as Mohini Mohan Dutta, a former Tata Group employee and a confidant of the late industrialist, anticipates a significant share. However, his expectations are said to contrast with the evaluations made by Tata's will executors, according to a report by The Economic Times.

 

According to the will, Dutta, 74, is set to receive one-third of the residual estate, which includes bank deposits exceeding ₹350 crore and proceeds from the sale of personal assets such as paintings and watches. The remaining two-thirds will go to Ratan Tata’s half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, who also serve as executors of his will following his passing in October 2024. The bulk of Tata’s key assets, including his shares in Tata and non-Tata companies, have been left to his two foundations.  

 

While Dutta has indicated his acceptance of the one-third share, the report suggests that he believes his inheritance should amount to approximately ₹650 crore. This estimate has raised concerns among some Tata stakeholders, as a formal valuation of the estate is still pending, and his share is unlikely to reach that figure. The will has yet to go through probate proceedings in the Bombay High Court, the report said.

Concerns over beneficiary allocations

Observers within Tata circles noted that family members such as half-brother Noel Tata and his children were not included in the will, while brother Jimmy Tata was allocated assets worth ₹50 crore. Meanwhile, some stakeholders have questioned the claim of an external individual seeking a larger settlement. Alongside Tata’s half-sisters, Tata Trusts trustees Darius Khambata and Mehli Mistry are also named as executors of the will.  ALSO READ: Ratan Tata's aide Shantanu Naidu promoted to new position at Tata Motors

Mohini Dutta's connection with Ratan Tata

Dutta first met Ratan Tata in Jamshedpur, leading to a long-standing association. Their bond resulted in Tata supporting Dutta’s career and business ventures.

 

"We first met in Jamshedpur at the Dealers' Hostel when Ratan Tata was 24. He helped me out and really built me up," Dutta said at Tata’s funeral in October 2024, reflecting on their six-decade-long connection.  

 

Dutta initially worked with Taj before launching his own venture, Stallion Travel Agency, which later merged with Taj’s travel division. Tata Capital subsequently acquired and later sold the business to Thomas Cook (India). Now operating as TC Travel Services, Dutta remains a director and has received shares in various Tata Group companies, including Tata Capital, which is preparing for an IPO.  

 

Veteran Tata insiders recall that Dutta often presented himself as Ratan Tata’s adopted son. However, the will and accompanying codicil clearly state that Tata never married or legally adopted any children.