Mystery heir to Ratan Tata’s fortune: Who is Mohini Mohan Dutta?

The recent revelation of Ratan Tata’s will has sparked curiosity over Mohini Mohan Dutta, a 74-year-old entrepreneur from Jamshedpur, who is set to inherit a significant portion of the industrialist’s residual estate.

According to the will, Dutta will receive one-third of Tata’s residual estate, including bank deposits worth over Rs350 crore (Dh147 million) and proceeds from the sale of personal belongings such as paintings and watches.

The remaining two-thirds will go to Tata’s half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy, who also serve as the executors of the will. Tata’s primary assets, including his shares in Tata and non-Tata companies, have been bequeathed to his two charitable foundations.

A relationship spanning six decades

Dutta’s association with Ratan Tata dates back to the early 1960s, when they first met in Jamshedpur at the Dealers’ Hostel. At the time, Tata was 24 and in the early stages of his career at the Tata Group. The two developed a close bond, and Dutta credits Tata for significantly shaping his professional journey. Reflecting on their friendship, Dutta said: “We first met in Jamshedpur at the Dealers’ Hostel when Ratan Tata was 24. He helped me out and really built me up.”

From travel entrepreneur to heir

Dutta’s career began with the Taj Group, before he ventured out to establish Stallion Travel Agency. In 2013, Stallion Travel merged with Taj Services, a division of the Taj Group, with Dutta holding an 80% stake and Tata Industries the remaining 20%. The business was later acquired by Tata Capital and subsequently sold to Thomas Cook (India). Dutta currently serves as a director of TC Travel Services and also holds investments in various Tata Group enterprises, including shares in the upcoming Tata Capital public listing.

Legal questions and disputes

Despite the clear stipulations in the will, sources indicate potential disputes over the estate’s division. While Dutta acknowledges his one-third share, he has suggested that he could receive as much as Rs650 crore, a figure that has raised concerns among Tata stakeholders. The estate’s final valuation is yet to be determined, and the Bombay High Court is expected to oversee the probate process.

Who’s left out?

Interestingly, other Tata family members such as Noel Tata and his children are not mentioned in the will. Tata’s brother Jimmy Tata, however, has been left property worth ₹50 crore.

source : gulfnews