PM [1]
Rank : Helper
Status : Super Owner
#1
Late business tycoon Ratan Tata left nearly a third of his residual assets for a mystery person. Mr Tata, who died on October 9, 2024, passed on assets worth Rs 500 crore to Mohini Mohan Dutta, a person little-known to the family or billionaire-philanthropist's inner circle, The Economic Times reported.
While the will mentioned Mr Dutta as one of the inheritors of Mr Tata's fortune, it will be distributed only after undergoing probate and is certified by the High Court. It is likely to take at least six months.
Who is Mohini Mohan Dutta?
Mohini Mohan Dutta, a Jamshedpur-based entrepreneur, is the co-owner of Stallion, which later became a part of Tata Services. Before the merger, Mr Dutta had an 80% stake in Stallion, while Tata Industries owned the remaining 20%.
At Mr Tata's funeral, Mr Dutta revealed that they first met in Jamshedpur at the Dealers Hostel when he was just 24 years old.
While not many had heard about Mr Dutta before his name featured on the will, the Group insiders say the entrepreneur always maintained he was close to the family. "He helped me out and really built me up," Mr Dutta told the media in the past.
Mr Dutta, believed to have had a nearly six-decade association with Mr Tata, was reportedly an invitee to Ratan Tata's birth anniversary celebrations held at NCPA in Mumbai in December 2024. The event was attended only by close associates and family members.
Mr Dutta's daughter also worked with the conglomerate, first at the Taj Hotels until 2015 and then at Tata Trusts where she was employed until 2024, according to a report in Fortune.
Ratan Tata's will
Mr Tata's will, which was made public approximately two weeks after his death, allocated wealth among several beneficiaries, including his brother, half-sisters, his dedicated household staff, and his executive assistant Shantanu Naidu. Mr Tata also made several provisions to ensure unlimited care for his pet dog, Tito. The stakes in Tata Sons were transferred to the Ratan Tata Endowment Trust.
His assets included a beach bungalow in Alibaug, a two-storey house in Juhu, fixed deposits over Rs 350 crore, and a stake in Tata Sons.