Mohini Mohan Dutta consents to Ratan Tata's will that left him assets worth Rs 588 crore

Mohini Mohan Dutta, a former director at the Taj Hotels group and a close associate of Ratan Tata, has agreed to the conditions outlined in the late industrialist’s will, which allocates him one-third of Tata’s residual estate, estimated to be worth approximately Rs 588 crore, The Times of India reported on May 19.

With Dutta’s agreement in place, the executors of the will can now proceed more swiftly in securing a probate from the Bombay High Court. At 77, Dutta was the only individual among nearly two dozen beneficiaries of Tata’s Rs 3,900-crore estate to raise concerns about the worth of his bequest, ToI's report (by Reeba Zachariah) said.

The rest of the residual estate—excluding real estate and shareholdings—will be equally divided between Tata’s two half-sisters, Shireen Jejeebhoy, aged 72, and Deanna Jejeebhoy, aged 70, who also serve as executors of the will.

Although Dutta initially expressed reservations regarding the distribution, he was unable to legally contest the will due to a “no-contest” clause, ToI's report added. This clause ensures that any heir disputing the will forfeits their entitlement.

The executors submitted a request to the High Court for probate on March 27. The court has since instructed them to publish a public notice and solicit objections from any heirs who have not given their consent. In addition, an originating summons was lodged on April 9 to advance the proceedings (see graphic).

Among the recipients named in the will, Dutta is the only individual outside the Tata lineage to be awarded a share of such magnitude. He sought to view some valuable items bequeathed to him, including a Ganesh idol, but was not permitted access to Tata’s Halekai property in Colaba, a source reported. These assets remain under the control of the estate’s executors, the source added.

Once the High Court grants probate, Dutta will not be subject to any estate duty, as inheritance from a will is not taxable under Indian law.

Dutta shared a bond with Tata that spanned more than sixty years. Their initial encounter occurred at the Dealers Hostel in Jamshedpur when Dutta was 13 and Tata was 25, as recalled by Dutta. He later moved to Mumbai and took up residence at Tata’s Bakhtawar home in Colaba. Dutta has publicly credited Tata for shaping his personal and professional life.

He began his professional journey at the travel desk of the Taj group. In 1986, with financial support from Tata Industries, he launched Stallion Travel Services. According to its memorandum of association reviewed by TOI, Dutta’s official residence at that time was recorded as Bakhtawar. Tata Group companies were subsequently directed to utilise Stallion’s services for their travel needs.

In 2006, Stallion was integrated into a Taj Hotels subsidiary, leading to Dutta’s appointment as director of the resulting firm, Inditravel. He ranked among the highest-paid executives at Taj during his tenure. The travel services division was later transferred to Tata Capital in 2015, which eventually sold it to Thomas Cook India in 2017. Dutta continued to hold a board seat until 2019, when the business was consolidated under Thomas Cook.