Executors to move Bombay High Court for probate of Ratan Tata will

The executors of the late Ratan Tata's will are expected to move the Bombay High Court next week to probate the will amid a simmering dispute between the Tata family and Mohini Mohan Dutta, a former confidant of Tata, over the quantum of the settlement.

 

The executors of the will are in talks with former Chief Justice Of India (CJI) Sharad Bobde to arbitrate on the matter, said a source close to the development. Probate is the legal process of proving a will in a court and confirming its veracity. Once the court confirms the will, it is considered as final. But objections can be raised during the hearing, said a lawyer, asking not to be quoted.

 

Some members of the Tata family do not want any public fight over the will and hence the arbitration.

 

Dutta’s inclusion in Tata’s will has surprised some members of the Tata family, according to group insiders. While the exact amount of the settlement to Dutta remains unclear, media reports suggest that one-third of Ratan Tata’s wealth has been designated for him, with the remainder being distributed between Tata’s sisters Deanna and Shireen Jejeebhoy. Noel Tata, the current chairman of Tata Trusts and half-brother of Ratan Tata, along with his family members, is excluded from the will.

 

Both Deanna and Shireen are executors of the will along with Tata Trusts trustees Mehli Mistry and Darius Khambata. Emails sent to Tata Trusts on Friday did not elicit any reply. Mehli Mistry did not reply to messages.

 

Former Chairman of the Tata group and Tata Trusts Ratan Tata died on October 9 last year.

 

Dutta, insiders said, met Tata in 1965 in Jamshedpur and became close friends. Dutta, 74, later set up a travel business called Stallion travel agency, which was later merged with Taj’s travel division. Dutta has also acquired shares in the group’s financial services firm Tata Capital, which is expected to be listed soon.