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- Ratan Tata 3,800 Crore will: Charity Gets Most Share, Shantanu Naidu’s Loan Waived off
New Delhi7 minutes ago
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A large part of the will of the late industrialist Ratan Tata will be donated. According to a report by The Economic Times, most of Ratan Tata’s assets worth about Rs 3,800 crore will be given to Ratan Tata Endowment Foundation (RTEF) and Ratan Tata Endowment Trust (RTET). While the remaining part of the property is kept separate for his family, friends and close colleagues.
According to the report, in the will of Ratan Tata, the date of 23 February 2022, his properties have been given details. In this will, the focus has been made for maintaining the work of human service and charity.
Human service and charity work RTEF and RTET
RTEF and RTET both Foundation works human service and charity. The report said that his assets include Tata Sons’ Ordinary and Preference Shares besides other financial assets.
Steap sisters found ₹ 800 crore in the sharing of Shirin-Deenna
One -third of Ratan Tata’s financial assets, including bank FD, financial instruments, art pieces and physical properties. The estimated price of all these assets is Rs 800 crore, which will be distributed between his step sisters Shirin Jeejibhoy, Deenna Jibhoy and former Tata Group employee Mohini M. Dutta. Mohini M. Dutta was close to Ratan Tata.
Step brother Jimmy will get half of the property in Juhu
Ratan Tata’s half -brother Jimmy Naval Tata will get half of the property in Juhu, which Ratan Tata inherited from his father Naval H Tata. The price of which has been stated to be around ₹ 16 crore. The rest of the assets will be distributed between Simone Tata and Noel Tata.
Apart from this, Jimmy Tata will get silver utensils and some jewelery. Mehli Mistry, a close friend of Ratan Tata, will get Alibag’s assets and a collection of three guns, including a pistol of .25 bore.
Unlisted stocks will be distributed equally between RTEF and RTET
The report states that unlisted stocks and shares as well as any property that has no details. This type of property will be divided equally between RTEF and RTET.
Every Tata pet will get ₹ 30,000 per quarter
The will also ensure that his pets will be taken care of even after Ratan Tata’s death. An amount of Rs 12 lakh has been fixed for their care, in which each pet will get Rs 30,000 per quarter. The student loan of Tata Executive Assistant Shantanu Naidu will be waived, while his neighbor Jake Malite will also get the benefit of interest free education loan.
Property also included cash, bank accounts, FD and foreign assets
According to court papers, their assets include cash of more than Rs 4 lakh, local bank accounts and about Rs 367 crore deposited in FD. Ratan Tata’s Foreign Assets include assets worth Rs 40 crore in Seychelles city of East Africa, in addition to bank accounts in Wales Fargo and Morgan Stanley, shares in Alcoa Corp and Humate Aerospace.
65 luxury watches of brands like Bulgari-Ticott included in assets list
Rattan The list of Tata’s assets also includes 65 luxury watches of brands such as Bulgari, Patek Philip, Tissott and Audamers Pigoet. In Seychelles, Tata’s land holdings will be transferred to RNT Associates Singapore. Also, instructions have been given to protect the rights of RNT Associates India and shareholders R Venkatarman and Patrick McGoldric in Singapore.
Under the probate process, Tata will have filed a petition in the Bombay High Court by Tata’s will- Advocate Daryas Kambatta, Mehli Mistry and his sisters Shirin and Deenna Jijbhaoy. The probate process confirms the authenticity of the will and empowers the executives to divide the property. This process is expected to take about six months. Ratan Tata died on 9 October 2024 at Breach Candy Hospital in Mumbai.
