The Late Ratan Tata has entrusted the responsibility of executing his will with close family members and friends. The legendary industrialist passed away on October 9 at the age of 86 in Mumbai.
Lawyer Darius Khambatta, close friend Mehli Mistry, half-sisters Shireen and Deanna Jeejeebhoy, are the executors of the former Tata Sons chairman’s will, The Economic Times reported on October 18.
Mistry is a trustee on the boards of Sir Dorabji Tata Trust and Sir Ratan Tata Trust, two main trusts that hold 52 percent in Tata Sons, ET said. Mistry, who was a close confidante of Ratan Tata, is also the first cousin of the late Cyrus Mistry who was ousted as Tata Sons chairman in 2016 by Ratan Tata.
The report, citing sources, said that Khambatta came back as a trustee in the two main trusts after a gap of seven years. Ratan Tata’s half-sisters have always been involved in philanthropic activities and the former Tata boss was known to be closer to the younger sister.
While the details of his will are private, the late industrialist had a net worth of Rs 7,900 crore, ET said, citing Hurun India Rich List 2024 report.
Reporting another development, Business Standard reported that Ratan Tata’s successor Noel Tata has received the unanimous go-ahead to join the Tata Sons board as the third Tata Trusts nominee. The trustees held a meeting on Thursday to select Ratan Tata’s 67-year-old half-brother as their nominee, the report said.
Moneycontrol could not independently verify the reports.
Tata Trusts, the powerful and influential philanthropic arm of the Tata Group, owns 66 percent in the $165- billion conglomerate. Noel was appointed as the chairman of the Trusts after the demise of Ratan Tata.
Parent company Tata Sons oversees 30 firms across consumer goods, hotels, automobiles and airlines and has become a global juggernaut over the years, with brands such as Jaguar Land Rover and Tetley Tea in its stable. It owns Tata Consultancy Services, Taj Hotels and Air India and counts Starbucks SBUX.O and Airbus as partners in India.
With PTI inputs
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