Mohini Mohan Dutta, a close associate of Ratan Tata and former director of Taj Hotels, has accepted the terms of the late industrialist’s will. The Economic Times has reported the recent development. Ratan Tata’s will leave Dutta one-third of his residual estate, worth around ₹588 crore.
This move clears the way for the executors to seek probate from the Bombay High Court. Dutta, 77, was the only one among the 24 beneficiaries to question his share of Tata’s ₹3,900-crore estate.
Dutta: Only Non-Family Major Beneficiary
Dutta is the only non-family member to receive such a significant share of Tata’s estate. The remaining two-thirds of the residual estate (excluding shares and real estate) will go to Tata’s half-sisters, Shireen Jejeebhoy, 72, and Deanna Jejeebhoy, 70. They are also the executors of the will.
Although Dutta initially raised concerns, he could not legally challenge the will due to a no-contest clause. This clause states that any beneficiary who disputes the will risk losing their inheritance. According to The Economic Times, Dutta declined to comment when contacted.
Once the court grants probate, Dutta won’t owe estate tax since bequests are not taxable for recipients in India.
Executors Maintain Control Over Assets;Dutta Denied Entry to Tata’s Colaba Home
A source told The Economic Times that he had also requested to inspect certain items bequeathed to him, including a Ganesh idol, but was not allowed access to Tata’s Halekai home in Colaba. The assets remain under the control of the executors.
The executors filed the probate petition on March 27. The court has directed them to publish a public notice and invite objections from any non-consenting legal heirs. They also filed a legal application on April 9 to speed up the process.
Who is Mohini Mohan Dutta
Dutta and Tata shared a six-decade-long bond. They first met in Jamshedpur when Dutta was just 13 and Tata was 25. Later, Dutta moved to Mumbai and lived at Tata’s Bakhtawar residence in Colaba. “He really built me up,” Dutta once said.
Dutta started his career at the Taj travel desk and later founded Stallion Travel Services in 1986, with support from Tata Industries. At the time, Tata companies were asked to use Stallion for travel needs.
In 2006, Stallion merged with a Taj subsidiary, and Dutta became a director of the merged entity, Inditravel. He was among Taj’s top earners. In 2015, Tata Capital took over the travel services business and sold it to Thomas Cook India in 2017. Dutta remained a board member until 2019, when the business was fully absorbed by Thomas Cook.