Tata Associate Mohini Mohan Dutta Agrees to Will Arrangement
Mohini Mohan Dutta, a close associate of the late industrialist Ratan Tata and former director at the Taj Hotels group, has agreed to the terms of Tata’s will. The will allocates him one-third of Tata’s residual estate, valued at approximately Rs 588 crore. Dutta’s acceptance facilitates the probate process in the Bombay High Court, as he was the only beneficiary among Tata’s estate to question the value of his inheritance. The remaining two-thirds of the estate will be inherited by Tata’s half-sisters, who are also the executors of the will.
Details of the Will and Probate Process
Ratan Tata’s will, which is valued at Rs 3,900 crore, has been a subject of scrutiny since its announcement. Dutta, at 77 years old, was the only one among the two dozen beneficiaries to raise concerns regarding his share. His consent to the will’s terms allows the executors to proceed with obtaining a probate from the Bombay High Court. The executors filed a petition for probate on March 27, and the court has since instructed them to issue a public notice to invite objections from any non-consenting legal heirs. Additionally, they filed originating summons on April 9 to expedite the process.
Dutta’s initial disagreement with the executors was complicated by a no-contest clause in the will. This clause stipulates that any beneficiary who challenges the will risks losing their inheritance entirely. Despite his reservations, Dutta ultimately chose not to contest the will. When approached for comments, he declined to provide any statements regarding the matter.
Beneficiaries and Their Shares
The distribution of Tata’s estate is significant, with Dutta receiving a substantial portion as the only non-family member to bequeath such a large share. The remaining two-thirds of the estate will be divided between Tata’s half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, who are also responsible for executing the will. This arrangement highlights the unique position Dutta holds within the context of Tata’s legacy, as he has been closely associated with the Tata family for decades.
Dutta’s relationship with Tata dates back over sixty years, beginning when they first met at the Dealers Hostel in Jamshedpur. Dutta later moved to Mumbai and lived at Tata’s residence in Colaba. Their bond was strong, with Dutta acknowledging that Tata played a significant role in his professional development.
Dutta’s Career and Contributions
Mohini Mohan Dutta’s career began at the Taj Hotels group, where he worked at the travel desk. In 1986, he founded Stallion Travel Services with financial backing from Tata Industries. The company quickly became a preferred travel service for Tata companies. Dutta’s contributions to the travel industry were recognized when Stallion was merged with a Taj subsidiary in 2006, leading to his appointment as a director of the newly formed entity, Inditravel.
Dutta remained a prominent figure in the travel services sector until 2019, when the business was integrated into Thomas Cook India. His tenure at Taj Hotels and subsequent ventures underscored his importance in the Tata business ecosystem. The court’s decision to probate Tata’s will will allow Dutta to inherit his share without incurring any estate tax, as bequests are not taxable in India.
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