Mohini Mohan Dutta: Rs 500 crore surprise in Ratan Tata’s Will
Mohini Mohan Dutta, an entrepreneur from Jamshedpur, has become the center of attention after it was revealed that he is set to inherit a substantial portion of Ratan Tata’s estate. Tata’s will stipulates that Dutta will receive one-third of the residual assets, estimated to be over Rs 500 crore. This unexpected inclusion has reportedly surprised the Tata family and close associates, as Dutta’s association with the late business tycoon was not widely known.
Dutta, aged 74, is entitled to one-third of Ratan Tata’s residual estate, which includes bank deposits exceeding Rs 350 crore and proceeds from auctioning personal belongings like paintings and timepieces. While the will specifies this arrangement, Dutta is reportedly seeking a larger settlement, around Rs 650 crore, which has caused concern among Tata stakeholders. The distribution of the inheritance will occur after undergoing probate and certification by the High Court, which is expected to take at least six months. The remaining two-thirds of the estate will go to Ratan Tata’s half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, who are also the will’s executors. Ratan Tata’s main assets, including company shares, have been allocated to his two foundations.
Dutta’s connection with Ratan Tata goes back to when Tata spent time in Jamshedpur early in his career. Dutta owned Stallion, a travel agency that later merged with Tata Group’s hospitality business, Taj Services, in 2013. Following the merger, Dutta served as a director of TC Travel Services. He first met Tata in Jamshedpur at the Dealers Hostel when he was 24 years old. Dutta had an 80% stake in Stallion before the merger, with Tata Industries owning the remaining 20%. One of Dutta’s daughters worked for Tata Trusts for nine years and was previously an employee of Taj Hotels.
