Ratan Tata's will: Half-sisters, close friend among chosen executors
What's the story
Former Tata Group chairman Ratan Tata has appointed his half-sisters Shireen and Deanna Jejeebhoy, close friend Mehli Mistry, and lawyer Darius Khambata as executors of his will.
The late industrialist owned a 0.83% stake in Tata Sons and had an estimated net worth of ₹7,900 crore as per the Hurun India Rich List 2024.
He had wished for his wealth to be donated to charitable causes and society.
Will details
Tata's will remains confidential
The details of Tata's will will remain a secret. However, it is known that Tata Sons's stake in the group's listed entities is estimated to be worth ₹16.71 lakh crore.
After Tata's death on October 9 at the age of 86, his half-brother Noel Tata has taken over as the chairman of Tata Trusts.
Trusted confidante
Mistry's role in Tata Trusts and RNT Associates
Mistry, a trusted confidante of Tata, was a trustee on the board of the two main Tata charities - the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust.
The trusts together own around 52% of Tata Sons, the holding company of Tata Group.
Mistry was also one of only two board members for RNT Associates Pvt. Ltd., Ratan Tata's personal investment vehicle which held ₹186 crore worth of investments as of FY23.
Family ties
Tata's half-sisters and their philanthropic involvement
Shireen and Deanna, daughters of Tata's mother Soonoo from her second marriage to Sir Jamsetjee Jejeebhoy, have been actively involved in philanthropic activities.
Deanna had previously served as a trustee on the board of the Ratan Tata Trust during the 1990s and early 2000s.
As per a former Tata executive, Ratan shared a close bond with his younger sisters.
Legal perspective
Khambata's return and clarification on Tata's will
Khambata, who had earlier served as a trustee at the two main trusts, returned to his post last year after a gap of nearly seven years.
He clarified, "I've not drafted Mr Ratan Tata's will nor advised him on its contents. I saw his will for the first time after he passed away."
As per Capstone Legal's Ashish Kumar Singh, the executor of the will must fulfill the deceased's final wishes while following relevant laws.