Ratan Tata Estate, Ratan Tata Will: In a massive development, the will of the late industrialist Ratan Tata has been revealed. Ratan Tata's Will has been made public almost 6 months after his demise. As per reports, Ratan Tata has donated a large part of his property. His property is estimated to be around Rs 3,800 crore. This includes shares of Tata Sons and other things. All this has been given to Ratan Tata Endowment Foundation and Ratan Tata Endowment Trust. Both these companies do charity and philanthropy work. Now, if you are wondering about who got what in Ratan Tata's Will, continue reading below-
Ratan Tata Will Breakdown
Ratan Tata also had some other property. This included money deposited in the bank, some papers, and things like watches and paintings. Its value was around Rs 800 crore. He has given one-third of it to his two step-sisters- Shirin Jejebhoy and Dina Jejebhoy. The remaining one-third has been given to Mohini M Dutta. Mohini worked in the Tata Group and was close to Ratan Tata.
According to a report in the Economic Times, a part of Ratan Tata's Juhu bungalow will be given to his brother Jimmy Naval Tata. Jimmy is 82 years old.
Ratan Tata has given the Alibag property to one of his close friends Mehli Mistry. Along with this, he will also get three guns of Tata. This also includes a .25 bore pistol, which he liked very much. The implementers of the will have filed an application in the Bombay High Court. They want the court to consider the will as correct. Some changes have also been made in the will, which are called codicils. According to the court papers, this application has been given so that the property can be divided according to the will.
More share to charity
Ratan Tata made a will on February 23, 2022. It has four codicils. Codicil means making some changes in the will after signing it. In the last codicil, it is said that Ratan Tata had bought shares in some companies. These include both listed and unlisted companies. Apart from this, there were also some assets about which nothing was written in the will. All this will be given equally to Ratan Tata Endowment Foundation and Ratan Tata Endowment Trust.
Probate of the will is a legal process. In this, the court sees whether the will is genuine or not. If the will is found to be correct, then the court allows it to be implemented. After this, the person implementing the will can divide the property according to the Tata will. Lawyers Darius Khambatta, Mehli Mistry, Shirin, and Dina Jejebhoy are going to implement the will. The property will be divided only if the court finds it correct. This process can take about six months.
What did Shantanu Naidu get?
Ratan Tata died on October 9 last year. According to his wish, a fund of Rs 12 lakh will be created for his pets. Each animal will get Rs 30,000 every three months. Apart from this, the student loan given to his close friend Shantanu Naidu will be waived-off. Also, the interest-free education loan given to Tata's neighbor Jake Malite will also be waived off.
According to court papers, Ratan Tata had a little more than Rs 4 lakh in cash. He had about Rs 367 crore in his bank accounts and FDs. Apart from this, he also had foreign assets worth about Rs 40 crore. This includes land in Seychelles, accounts in Wells Fargo Bank and Morgan Stanley, and shares of Alcoa Corp and Howmet Aerospace. His assets also include 65 watches. These are brands like Bulgari, Patek Philippe, Tissot, and Audemars Piguet.
What did Noel Tata get?
Ratan Tata has given his land in Seychelles to RNT Associates Singapore. He has also said that the shares of R Venkataraman and Patrick McGoldrick in RNT Associates India and RNT Associates Singapore should remain safe. Jimmy Tata will get silver utensils and some jewelry. He will be the owner of half of the Juhu property. Ratan Tata got this property from his father Naval H Tata. The remaining half will go to Simone Tata and Noel Tata.
While giving the Alibaug bungalow to Mehli Mistry, Tata wrote in his will that Mistry had helped a lot in building this property. He also said that he hoped that this bungalow would remind him of the good days they spent together.