In expectation of a fight among beneficiaries — primarily close friends, philanthropic organizations, and relatives — over his estate, Ratan Tata had provided that any beneficiary who contests or challenges his will would lose their rights and benefits.

Though the no-contest clause was meant to avoid litigation among beneficiaries and lead to a harmonious settlement, lawyers say Tata’s long-time colleague Mohini Mohan Dutta has approached for clarification regarding his portion of the late Tata Group chairman’s fortune. Tata, ex-Chairman of Tata Sons and other Tata companies, died on October 9, 2024.

The executors of Ratan Tata’s will would have moved a petition to the Bombay High Court for probating the will last week.

Who sought clarification on Ratan Tata’s will

At the core of the clarification is Dutta’s right over one-third of Tata’s fortune, worth Rs 3,800 crore, comprising Tata Sons shares of Rs 1,684 crore at book value. The Tata Sons shares are, however, willed to two foundations that Ratan Tata had set up, making Dutta’s claim dubious. Dutta has merely moved for clarification, and he has not objected to the terms of the will, legal circles said.

SA Bobde, the former Chief Justice of India, has been entrusted with the task of arbitrating between the beneficiaries by the executors of the will. Tata’s will was filed in the Bombay High Court for probate last week, which is a crucial step towards validating the truth of the will.

As the court unravels the intricacies of Tata’s estate, the fate of Dutta’s claim hangs in the balance. One thing is certain, though: the destiny of Ratan Tata’s enormous wealth will be determined in the court with far-reaching consequences for the Tata group and its beneficiaries.

What is the value of Ratan Tata’s estate?

Ratan Tata’s wealth, amounting to about Rs 3,800 crore, has gone largely to charity, with the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust as the major recipients. These entities will use the funds for philanthropic activities.

Apart from his stakes in Tata Sons, Tata’s investments also consisted of other stocks, financial instruments, and real estate. His will, dated February 23, 2022, consists of four codicils — additions or supplements — with the last one declaring that any unallocated assets should go to the charitable trusts.

Who are the beneficiaries of Ratan Tata’s will

The major beneficiaries of the will are Ratan Tata Endowment Foundation and Ratan Tata Endowment Trust who will receive the lion’s share of the estate. His sisters Shireen Jejeebhoy and Deanna Jejeebhoy will receive one-third of the remaining assets of Tata, valued at Rs 800 crore.