Ratan Tata, who died on October 9 at age 86, named lawyer Darius Khambata and associate Mehli Mistry as executors of his will. His half-sisters are also involved. Tata’s estate, heavily tied to Tata Sons and charity, is overseen by these trusted individuals, ensuring his philanthropic legacy persists.
Ratan Tata, who passed away on October 9 at the age of 86, appointed lawyer Darius Khambata and long-term associate Mehli Mistry as executors of his will, alongside his half-sisters, Shireen and Deanna Jejeebhoy. As reported by The Economic Times, these individuals will oversee the execution of his final wishes. Following Tata’s demise, his half-brother, Noel Tata, became chairman of Tata Trusts and is likely to play a significant role in the organization’s future. At the time of his passing, Ratan Tata held a 0.83 percent stake in Tata Sons, with an estimated net worth of ₹7,900 crores according to the Hurun India Rich List 2024. He was known for his commitment to philanthropy, regularly donating a significant portion of his wealth to charitable initiatives. Approximately 75 percent of his wealth was linked to Tata Sons shares, alongside investments in a variety of startups including Ola and Paytm. Mehli Mistry, a trusted friend and confidante of Tata, is currently a trustee for the Sir Dorabji Tata Trust and Sir Ratan Tata Trust, which collectively own around 66 percent of Tata Sons. The market valuation of Tata Sons’ shares in listed companies is estimated at ₹16.71 trillion. Mistry has played a prominent role in Tata’s legacy and his philanthropic efforts. Ratan Tata’s half-sisters, Shireen and Deanna Jejeebhoy, actively engaged in philanthropic activities, are part of the will execution team. Deanna was notably a trustee of the Ratan Tata Trust during the 1990s. Mistry and Ratan Tata shared a close relationship, and Mistry had supported Tata through various challenges, including health concerns in recent years. The appointed executors have the responsibility to manage and execute Tata’s final wishes according to legal regulations and the stipulations outlined in his will. Executors commonly oversee unallocated assets, ensuring they are managed properly and in line with the deceased’s personal laws. Furthermore, Ratan Tata’s personal investment company, RNT Associates Pvt Ltd, had investments valued at ₹186 crores, with implications for asset management under the executors’ guidance. Mehli Mistry has resumed his role as a trustee within the Tata Trusts after a hiatus and holds various directorships in companies within the M Pallonji Group. He has also been involved with notable organizations such as Breach Candy Hospital and the Tata Indian Institute of Social Skills, reflecting his extensive influence across several sectors.
After Ratan Tata’s death, the management of his estate and final wishes reverted to a group of trusted individuals, indicating the deep relationships he maintained throughout his life. The executors, who include family members and close associates, are tasked with responsibly overseeing Tata’s considerable wealth, which he aimed to utilize for philanthropic efforts. Tata’s legacy, entwined with Tata Trusts, is positioned to influence the future of the Tata Group significantly, ensuring that his commitment to charitable work continues after his passing.
In summary, Ratan Tata appointed his lawyer, Darius Khambata, his confidante, Mehli Mistry, and his half-sisters to execute his final wishes following his passing. With substantial ties to Tata Trusts and a commitment to philanthropy, these executors bear the responsibility of managing Tata’s extensive assets. This transition reflects Tata’s enduring influence on both his family and charitable endeavors.
Original Source: www.business-standard.com
Leave a Reply