Ratan Tata's confidant Mohini Mohan Dutta accepts terms of will, to receive portion of estate: Report

A priest prays during a final viewing for the public to pay their respects to the former chairman of Tata Group Ratan Tata, in Mumbai (Photo: Reuters)

Mohini Mohan Dutta, former director at Taj hotels group, has reportedly accepted the terms of Ratan Tata’s will, Times of India said on Monday. The close confidant of the industry icon will inherit the residual estate, as per the will. The one-third of the estate, which Dutta will get, is valued at Rs 588 crore. With this, the executors of Tata’s will be able to fasten the process and get the probate from the Bombay high Court sooner, the TOI report added.

The 77-year-old is among the two dozen beneficiaries of Tata’s Rs 3,900 crore estate who had raised questions regarding the value of the inheritance, the TOI report added. While one-third of residual estate will go to Dutta, remaining two-third of Rs 3,900 estate will go to Tata’s half-sisters Deanna Jejeebhoy and Shireen Jejeebhoy. This does not include immovable properties and shares. The half-sisters are also the executors of Tata’s will.

Rs 3,900 crore residual estate of Ratan Tata include foreign currency notes, bank deposits and crystal pieces, the TOI report added. Apart from the bequest in the Tata's will, Dutta also has 1.04 lakh shares in Tata Capital. The value of these shares is said to be around Rs 10 crore. Tata Capital is slated to go public soon.