Elaborated Details Ratan Tata's Will: Who Gets What?

According to numerous media reports, the late entrepreneur Ratan Tata's inheritance would mainly benefit the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. Both of these entities are committed to charity and philanthropic endeavours. The business tycoon's estate is estimated to be worth approximately INR 3,800 crore. Tata's February 23, 2022, will specify how his assets will be distributed, with an emphasis on continuing the charity causes he supported. According to the reports, these two organisations will receive the majority of his legacy, which includes the ordinary and preference shares of Tata Sons as well as other financial assets. He has reserved a sizeable amount of his fortune for his close friends, family, and acquaintances.

Who Gets What in Tata’s Family?

Shireen and Deanna Jejeebhoy, his half-sisters, and Mohini M. Dutta, a former Tata Group employee close to Tata. Both of these ladies will divide a third of the late industrialist's bank fixed deposits, financial instruments, and physical possessions like art and timepieces, estimated at INR 800 crore. Close friend Mehli Mistry is expected to acquire the Alibaug property and his cherished collection of three firearms, including a a.25-bore pistol. Tata's brother Jimmy Naval Tata would inherit a portion of the family's Juhu house. According to court documents, it also has a fourth supplement that states that unlisted stocks and shares, along with any assets not otherwise specified, shall be divided equally between the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust, the report stated. The executors of Tata's will, Mehli Mistry, his sisters Shireen and Deanna Jejeebhoy, and attorney Darius Kambatta have petitioned the Bombay High Court as part of the probate procedure. It is anticipated that the legal process known as probate, which verifies the validity of a will and gives the executors the power to divide the assets, will take around six months.

Tata’s Close Employees and Pet Also Get their Share

In addition to a loan waiver of INR 51 lakh, Ratan Tata left his long-time cook Rajan Shaw a little over INR 1 crore. His secretary Delnaz Gilder has been handed INR 10 lakh. His butler, Subbaiah Konar, will receive INR 66 lakh, which includes a INR 36 lakh debt waiver. Ratan Tata ordered that his clothing be given to non-governmental organisations for distribution to the poor. Brands he wore included Brioni suits, Daks, Polo, Hermes ties, and Brooks Brothers shirts. Additionally, he waived off his executive assistant Shantanu Naidu a loan of INR 1 crore. He had taken this loan to pursue his MBA at Cornell University. In addition, he waived a loan of INR 18 lakh to his driver, Raju Leon, and another loan to his neighbour. Ratan Tata loved animals, and his testament made specific mention of his dog Tito. For the German Shepherd (Tito), the businessman set aside INR 12 lakh, with INR 30,000 being paid off each quarter. Rajan Shaw will continue to look after Tito.