Ratan Tata, the former chairman of the Tata Group and one of India’s most respected industrialists, passed away leaving behind a will that has drawn widespread attention. Among the many details, one aspect has stood out prominently—the inclusion of a close associate, Mohini Mohan Dutta, as a major beneficiary.
Dutta has been named to receive one-third of Tata’s residual estate, a portion valued at approximately Rs 588 crore. What makes this decision even more remarkable is the fact that Dutta is the only non-family member to have received such a large share from the will. This article delves into Dutta’s background, his association with Ratan Tata, and the developments surrounding the will.
Mohini Mohan Dutta is not a well-known public figure, but his long-standing relationship with Ratan Tata has now been brought into the spotlight. Born around 1948, Dutta first met Tata when he was just 13 years old and Tata was 25. Their meeting took place at the Dealers Hostel in Jamshedpur, a city deeply connected with the history of the Tata Group. From that moment, a friendship was formed that would span over six decades. The nature of their bond was personal as well as professional, with Tata playing a key role in shaping Dutta’s life and career.
After their initial meeting, Dutta moved to Mumbai, where he lived at Tata’s residence in the Bakhtawar building located in Colaba. He often spoke of Tata with admiration and credited him with providing not just opportunities but also mentorship and support. This deep connection eventually found expression in Tata’s final will. Dutta’s inclusion as a major beneficiary has not only surprised many but has also underscored the level of trust and affection Tata had for him.
Professionally, Dutta began his journey at the Taj group’s travel desk. His career path was closely intertwined with the Tata Group. In 1986, with financial help from Tata Industries, he established Stallion Travel Services. This venture marked the beginning of his entrepreneurial journey. Tata Group companies became key clients of Stallion, relying on its services for travel management. Over time, Stallion became an important part of Tata’s travel operations.
In 2006, Stallion was merged into a subsidiary of Taj Hotels. Following this merger, Dutta was appointed as a director in the new entity, named Inditravel. During his time there, he was among the highest-paid executives in the Tata Group. This reflected not only his position but also the level of responsibility he had taken on. His involvement with the Tata Group’s travel operations continued even after major changes in ownership.
In 2015, Tata Capital took over the travel business, and in 2017, it was sold to Thomas Cook India. Dutta remained on the board until 2019, after which the travel division was formally absorbed into Thomas Cook.
When Ratan Tata passed away, the contents of his will began to attract attention. According to the will, his estate is estimated to be worth around Rs 3,900 crore. This figure does not include real estate properties or shares. Instead, it covers assets such as bank deposits, foreign currency, precious crystals, and other valuable items.
Among the approximately two dozen beneficiaries, Dutta’s share stood out because of its size and the fact that he was not a family member. The will clearly stated that Dutta would receive one-third of the residual estate, which worked out to approximately Rs 588 crore. In addition, he was also allocated over one lakh shares in Tata Capital, valued at more than Rs 10 crore.
Initially, Dutta raised concerns about the valuation of the property he was set to receive. He felt that certain items allocated to him, including a Ganesh idol and other personal effects, were not being properly handled or assessed. He expressed a wish to inspect these items, but he was reportedly denied access to the Halekai property in Colaba, where these assets are kept. The executors of the will, Ratan Tata’s half-sisters Shireen Jejeebhoy and Deanna Jejeebhoy, were managing the estate and maintaining control over the assets.
Despite his reservations, Dutta was unable to challenge the terms of the will due to a specific clause known as the “no-contest” clause. This clause prevents any beneficiary from contesting the will in court. If a challenge is made, the individual automatically forfeits their inheritance.
Faced with this situation, Dutta eventually decided to accept the terms of the will. This development cleared the way for the executors to move ahead with the probate process. Probate is a legal procedure that involves validating the will in court. The application for probate was submitted to the Bombay High Court on March 27, and with Dutta’s consent now recorded, the process is expected to proceed more smoothly.
The will also includes other beneficiaries, with the remaining part of the residual estate being equally divided between Ratan Tata’s two half-sisters. The estate, excluding real estate and shares, is to be split equally between them. As executors of the will, they are responsible for ensuring that the instructions laid out by Tata are followed correctly. It is also worth mentioning that inheritance from a will is not taxable under Indian law. Therefore, Dutta will not have to pay any tax on the Rs 588 crore he is set to receive.
The story of Mohini Mohan Dutta stands out not just because of the large inheritance but also due to the rare nature of his relationship with Ratan Tata. In an environment where wills often lead to disputes, the presence of a clause that effectively barred legal challenges helped avoid lengthy litigation. However, Dutta’s initial hesitation showed that even long-standing relationships can be tested when matters of inheritance come into play. Now that he has agreed to the terms, the estate can be settled as planned.
Dutta’s journey from working at a travel desk to becoming a director in major firms connected to the Tata Group reflects his deep ties with the organisation. While he may not be a public personality, his career has been closely linked to one of India’s most respected business houses. His inclusion in the will marks the end of a story that began in Jamshedpur more than sixty years ago. It also reflects Ratan Tata’s personal values—his loyalty, appreciation for long-term relationships, and his willingness to reward those who stood by him in both personal and professional spaces.
