Guwahati: Late industrialist Ratan Tata never married, however, he had mentioned during interviews that he came pretty close to getting hitched multiple times but circumstances prevented it. So, following his demise, people have been curious about the distribution of Ratan Tata's Rs. 10000 Crore property and the management of his trusts, Ratan Tata Endowment Foundation (RTEF) and Ratan Tata Endowment Trust (RTET).
According to reports, these trusts will be restructured, with new trustees Shireen Jejeebhoy, Noel Tata and Dian Jejeebhoy, Ratan Tata's step-siblings. Ratan In Tata Sons, Tata owned a 0.83% stake and stakes in companies like Tata Digital, Tata Motors, and Tata Technologies. Now, these holdings will be transferred to RTEF.
Apart from the close family members, Ratan Tata's will also mentions Shantanu Naidu, who was a close associate and mentee of the late industrialist. If reports are to be believed, Naidu is set to inherit a portion of the Tata estate. However, there is another mystery man who has been named in Ratan Tata's will. Mohini Mohan Dutta, an entrepreneur from Jharkhand, will be receiving a whopping Rs 500 crore from Tata's will, per The Economic Times.
ALSO READ: IMF Mission To Inspect Regulatory, Judicial System: Pak Govt
Who is Mohini Mohan Dutta?
Mohini Mohan Dutta, who began his career with the Taj Group, was a close confidant of Ratan Tata. Dutta and Ratan Tata first met in the early 1960s at Dealers’ Hostel in Jamshedpur. Ratan Tata was just 24 years old at the time and was establishing his position in the Tata empire. However, that meeting changed the course of Dutta's life. Reportedly, Dutta founded Stallion Travel Agency, which in 2013 merged with Taj Services. Around 80 per cent of the company stake was owned by Tata Industries, which Tata Capital later acquired. Thereafter, Thomas Cook (India) bought the company. The company currently operates as TC Travel Services, with Dutta as its director.
Moreover, Dutta’s connection with Ratan Tata extends beyond his career. His daughter also worked for Ratan Tata for almost a decade.
FIRST Business Portal addressing the potential of business capability of North East Region.
