Late Ratan Tata’s holdings in listed and unlisted companies will be transferred to his two foundations, the Bombay High Court said in a ruling on June 16. The court clarified that the former Tata Sons’ chairman’s holdings won’t go to his half-sisters and ex-confidant Mohini Dutta, a report by Times of India said.
The two foundations, which will receive the holdings, are Ratan Tata Endowment Foundation (RTEF) and Ratan Tata Endowment Trust (RTET).
The explanation comes after Tata estate’s executors asked to clear the air on who would inherit the late industrialist’s portfolio, the paper said.
The clarification sought was for the non-Tata Sons shares, which are worth 1,547 crore and now will be transferred to his two foundations split equally, TOI said.
The Tata Sons’ shares worth Rs 1,684 crore are recorded in his will to be transferred to the two foundations in the 70:30 ratio, the report said.
Tata’s non-Tata Sons’ portfolio included TCS, Tata Motors, RNT Associates, Pritish Nandy Communications along with several startups such as Curefit, Avanti Finance and others, TOI said.
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