Meet the 4 people who are poised to execute late Ratan Tata will, and it is not Noel Tata, Jimmy Tata, or Simone Tata.
Indian industrialist and philanthropist, Ratan Tata, breathed his last on October 9 at the age of 86, and he has left behind a legacy that will be remembered by generations to come.
Post his demise, his half-brother Noel Tata has succeeded Ratan Tata as chairman of Tata Trusts. However, details of his will are under wraps currently. And as per a report by Economic Times, Ratan Tata, the late Chairman Emeritus of Tata Sons, has picked lawyer Darius Khambata and close associate Mehli Mistry to be the executors of his will. They will be joined by Ratan Tata’s half-sisters Shireen and Deanna Jejeebhoy.
For those caught unaware, Ratan Tata, who had a mere 0.83% stake in Tata Sons, had time and again, expressed his wish to donate a significant portion of his wealth to charity and social welfare. With a net worth of Rs 7,900 crore, as per Hurun India Rich List 2024, Ratan Tata had earlier invested in several companies including Ola, Paytm, FirstCry, Urban Company, and Upstox. Coming to his properties, he owned a residence in Mumbai’s Colaba, apart from having a holiday home in Alibaug by the Arabian Sea.
For now, the exact details of Ratan Tata’s will are not known. Coming to Mehli Mistry, he served as a trustee on the boards of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. Together, the two trusts account for around 52% of Tata Sons, and the stake of the Tata Trusts in Tata Sons is 66%. Mistry was not only a close confidante of Tata, but he also took care of him during his declining health. He is also a director on the boards of multiple companies under the M Pallonji Group, apart from being on the boards of institutions such as Breach Candy Hospital and the Tata Indian Institute of Social Skills.
As for Darius Khambata, he is a renowned advocate and trustee of the Tata Trusts.
Coming to the Jejeebhoy sisters, Shireen and Deanna, the two are daughters of Ratan Tata’s mother, Sooni, from her second marriage to Sir Jamsetjee Jejeebhoy. In fact, Deanna had earlier served as a trustee on the board of the Ratan Tata Trust in the 1990s and early 2000s. It is said that Tata shared a close bond with his half-sisters.
It is believed that the role of the executors involves making sure that the wishes of the deceased are carried out according to the written will. Hence, as executors of Tata’s will, Mistry, Khambata, and the Jejeebhoy sisters now will have to ensure that.
Meanwhile, as for Noel Tata, the half-brother of Ratan Tata, he has been appointed Chairman of Tata Trusts. Nonetheless, he has been an important figure in the growth of Tata Group.
