Ratan Tata leaves more than ₹3 crore for home and office staff

Ratan Tata has left nearly ₹3.5 crore to his house helps and office staff — from car cleaners to peons. The late industrialist also waived off loans extended to members of his staff and even a neighbour.Tata, who died on October 9, 2024, also directed the executors of his will to distribute ₹15 lakh out of his estate to domestic servants who were with him for more than seven years in proportion to their years of service. He also directed them to distribute ₹1 lakh to part-time helpers and car cleaners.All his clothing — he wore brands like Daks, Polo, Brooks Brothers, Brioni suits, Hermes ties — will be given to NGOs to distribute them to the underprivileged.He bequeathed just over ₹1 crore to his long-time cook Rajan Shaw (which includes a loan waiver of ₹51 lakh), ₹66 lakh to butler Subbaiah Konar (including a loan waiver of ₹36 lakh), and ₹10 lakh to secretary Delnaz Gilder.He cancelled a ₹1-crore loan given to his executive assistant Shantanu Naidu for his MBA studies at Cornell University, as reported by TOI in its October 25, 2024 edition. He bequeathed ₹1.5 lakh to his driver Raju Leon and wrote off a ₹18-lakh loan.In his will dated February 23, 2022, Ratan Tata said: “I direct my executors that they shall not take any steps to recover the loans (from Shaw, Konar and Raju Leon) and the same shall not be considered as owing to my estate. I direct that the amount of the loan shall be considered a bequest from me to the concerned servants/drivers.”He left ₹5 lakh to Tata Trusts consultant Hoshi D Malesara, ₹2 lakh to his Alibaug bungalow caretaker Devendar Katamollu, ₹1.5 lakh to personal assistant Deepti Divakaran, and ₹50,000 each to peons Gopal Singh and Pandurang Gurav. He also waived a ₹2 lakh loan to Sarfaraz Deshmukh, one of his helpers.He allocated ₹12 lakh for his German shepherd Tito, with ₹30,000 quarterly disbursements. Tito, adopted after his namesake’s passing, remains under Rajan Shaw’s care. medium119908788Tata also waived a ₹23.7-lakh loan given to his neighbour Jake Malite for his MBA at Warwick Business School, UK. Malite, currently based in Switzerland, was with American aerospace manufacturer Pratt & Whitney, as shown in a year-old LinkedIn post.One-third of Tata’s residual estate (excluding shares and immovable properties) was bequeathed to former Taj employee Mohini Dutta. His Seychelles land worth ₹85 lakh was bequeathed to RNT Associates, a Singapore-registered fund, whose shareholders include former Tata Trusts managing trustee R Venkatraman and former Tata Technologies CEO Patrick McGoldrick.Tata’s two half-sisters, Shireen Jejeebhoy and Deanna Jejeebhoy (who will each receive one-third of his residual estate), friend Mehli Mistry (recipient of the Alibaug bungalow), and Tata Trusts trustee Darius Khambata are the executors of his will. Each executor will receive ₹5 lakh as appreciation for dedicating their time and effort to execute the will.The late industrialist had also ensured that his funeral and obsequial expenses be met by his estate. According to the executors, the funeral expenses were ₹2,500.Charity gets most of Ratan Tata’s legacyTata has bequeathed a lion’s share of his total wealth, conservatively estimated at ₹3,800 crore, comprising ordinary and preference shares of Tata Sons and other assets, to Ratan Tata Endowment Foundation, a Section 8 company, and Ratan Tata Endowment Trust for philanthropic and charitable purposes.A share of the Juhu bungalow would go to his brother Jimmy Naval Tata, 82, and the sole living heir, while close friend Mehli Mistry would receive the Alibaug property and Tata’s prized possession of three guns — including a .25 bore pistol.According to the court papers, besides cash in hand of little over ₹4 lakh and funds lying in local bank accounts and fixed depoists add up to around ₹367 crore, around ₹40 crore worth foreign assets of Ratan Tata comprised land parcels in Seychelles, accounts with Wells Fargo Bank and Morgan Stanley, shares of Alcoa Corp and Howmet Aerospace.The asset list includes 65 watches of brands like Bvlgari, Patek Phillipe, Tissot and Audemars Piguet among others.With inputs from The Economic Times