The details of Ratan Tata’s will have taken many by surprise, including those closest to the late industrialist. According to media reports, the former chairman of Tata Sons allocated a substantial portion of his remaining wealth—estimated to be over ₹500 crore—to an individual whose association with the business magnate was not widely known.
The recipient of this unexpected inheritance is Jamshedpur-based entrepreneur Mohini Mohan Dutta, a name that has caught even the Tata family off guard.
Mohini Mohan Dutta and his family were the owners of Stallion, a travel agency that had long-standing business ties with Tata Group. In 2013, Stallion merged with Taj Services, the hospitality division of Taj Group of Hotels.
Dutta’s family held an 80% stake in Stallion, while the remaining 20% stake was owned by Tata Industries. He also served as the director of TC Travel Services, a company closely associated with Thomas Cook, one of the world’s leading travel service providers.
According to sources familiar with Ratan Tata’s personal and professional relationships, Dutta was a longtime associate of the Tata patriarch. Many within the Tata family circle were aware of his connection with Ratan Tata.
Notably, one of Dutta’s daughters worked at Tata Trusts for nine years, until 2024. Before that, she was employed at Taj Hotels, reinforcing the family's deep-rooted ties with the Tata Group.
Dutta recalls his first encounter with Ratan Tata at the Dealers Hostel in Jamshedpur when the Tata scion was just 24 years old. This meeting marked the beginning of a relationship spanning nearly six decades.
Dutta has often mentioned that Ratan Tata played a significant role in his personal and professional growth, offering him guidance and support over the years. His presence at Tata’s funeral in October 2024 further underlines the depth of their connection.
Additionally, Dutta was invited to Ratan Tata’s birthday celebrations at the National Centre for the Performing Arts (NCPA) in Mumbai in December 2024, signifying his close association with the business icon.
Ratan Tata, known for his philanthropic vision, has allocated a major portion of his wealth to charity. His half-sisters, who were named as beneficiaries, have also decided to return their share to charitable causes.
With legal experts expected to closely analyze the will and its distribution, there is growing anticipation about the final execution of Ratan Tata’s last wishes.
During his lifetime, Ratan Tata established two philanthropic institutions—the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust—to ensure that a significant portion of his wealth would be used for social good.
According to various reports:
Ratan Tata held a direct 0.83% stake in Tata Sons, the holding company of Tata Group.
His total net worth was estimated to be around ₹8,000 crore.
Apart from his shares in Tata Sons, he also owned a luxury car collection, including Ferrari and Maserati.
He had investments in several startups and businesses through RNT Associates, his private investment firm, which had a portfolio worth ₹186 crore until FY 2023.
As one of India’s most respected business leaders, Ratan Tata’s contributions to industry, philanthropy, and innovation will continue to shape Tata Group’s legacy. His final act of wealth distribution reflects his lifelong commitment to supporting those who contributed to his journey.
With the legal procedures underway, the implementation of Ratan Tata’s will will be closely followed by business analysts, legal experts, and the public alike.