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The inclusion of a “no-contest” clause in Ratan Tata’s will has caught the attention of India Inc, prompting a wave of interest among promoters of listed companies and business families. Legal advisors and estate planners are seeing a noticeable uptick in queries, as wealthy individuals look for ways to shield their legacies from courtroom battles.
The clause, which disinherits any beneficiary who contests the will, is a common feature in western estate planning but remains largely unfamiliar in India.
Amit A Tungare, managing partner at Mumbai-based law firm Asahi Legal, said the clause is “exceptionally rare” in Indian testamentary practice.
