The recently opened will of late business tycoon Ratan Tata has left his close circle in shock, as the late industrialist bequeathed a third of his residual assets—estimated to be over ₹500 crore—to an individual whose association with him was known to very few, The Economic Times reported.
The unexpected beneficiary is Mohini Mohan Dutta, an entrepreneur in the travel sector originally from Jamshedpur. The revelation has surprised the Tata family and close associates, multiple sources familiar with the matter told the publication.
Who is Mohini Mohan Dutta?
Mohini Mohan Dutta’s connection with Ratan Tata was not widely known, but those familiar with his life say he had been a trusted associate for years. His family previously owned Stallion, a travel agency that merged with Taj Services, part of the Taj Group of Hotels, in 2013, ET reported.
Before the merger, Mohini Mohan Dutta and his family controlled 80% of Stallion, while Tata Industries held the remaining stake. He also served as a director at TC Travel Services, formerly an affiliate of Thomas Cook, the report added.
A six-decade-long bond
According to Tata Group insiders, Dutta often described himself as being close to the Tata family. He had publicly spoken about his bond with Ratan Tata at the latter’s funeral in October 2024. “We first met in Jamshedpur at the Dealers’ Hostel when he was 24. He helped me out and really built me up,” Dutta had told the media, revealing a six-decade-long association.
Dutta was reportedly invited to Ratan Tata’s birth anniversary celebrations held at NCPA in Mumbai in December 2024, an event attended by close associates and family members.
Philanthropy
The bulk of Ratan Tata’s wealth has been dedicated to philanthropy, in line with his lifelong commitment to charitable causes. His half-sisters, who were named beneficiaries, are believed to be considering donating their share to charity as well.
Ratan Tata had established two entities—the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust—to channel a significant portion of his assets toward charitable initiatives, the ET report said.
Ratan Tata, one of India’s most internationally recognised business leaders, died in October 2024 at 86. The Tata Group is one of India’s largest companies, with annual revenues in excess of $100 billion.