Executors of Ratan Tata's will start on shortlist for NGO boards

Mumbai: Executors of Ratan Tata’s will have commenced the process of appointing members to boards of not-for-profit entities the former Tata group chairman had set up to fund charities, people aware of the development said.

Tata had set up the Ratan Tata Endowment Foundation and Ratan Tata Endowment Trust in his last years, to bequeath a significant portion of his assets. People close to the recently-deceased industrialist said his wish was that the two organisations continue philanthropy.

Senior lawyer Darius Khambata and Tata Sons chairman N Chandrasekaran are among those seen as most likely to be part of the foundation, as Tata had expressed a desire to include them on the board, the people said.


Tata had named Khambata, his two half-sisters and Mehli Mistry as executors of the will. The half-sisters — Shireen and Deanna Jejeebhoy — are also seen as eligible for roles at the foundation, the people said.

There is speculation some Tata Trustees— including Trusts chairman Noel Tata and Pramit Jhaveri—may be considered as foundation directors.

Legal Debate
Khambata and Jhaveri are trustees of the Ratan Tata Endowment Trust, the people said.

Executors of the will and Tata Sons did not comment.

There is a debate on whether executors have a legal right to be appointed, unless explicitly named in the will. Another perspective holds that executors may be appointed, particularly if they are not beneficiaries of the foundation.

Legal experts say there is no bar on beneficiaries or executors of a will to hold positions in entities that are mentioned in the will. “Personal laws are very private and generally cannot impose restrictive aspects in a will,” said Ashish Kumar Singh, partner at law firm Capstone Legal.

Stakeholders may now need to collaborate to reach a consensus on appointments, people aware of developments indicated.

Tata’s wealth can be distributed only after the will is submitted for probate and certified by the high court, a process that could take up to six months.

Legal challenges in probate arise only when someone is challenging the existence or contents of the will, said Ashish Pyasi, partner at Aendri Legal. “Otherwise, the probate can be granted easily in favour of the executors named in the will. In the event the executor named in the will refuses, then the other person named in the will as executor will be appointed as the executor.”

Details of Tata’s will are private.

Tata owns a direct stake of 0.83% in Tata Sons, holding company of the group, and had a net worth of ₹7,900 crore, according to the Hurun India Rich List 2024 released in August, this year. He was keen to utilise a significant portion of his wealth for charity and community. It is understood that most of his wealth will be managed by the foundation, while the trust will oversee the remainder.

Meanwhile, the fleet of cars owned by Tata, including a Ferrari and Maserati, may be auctioned and the proceeds allocated to the foundation. Tata bequeathed his share of a Juhu home to brother Jimmy Tata.

Tata bequeathed an estimated ₹300 crore to his half-sisters, but they may seek to allocate the funds to the foundation, said people aware of the matter. The women lead a frugal life, have enough wealth of their own and also manage their own charitable activities.

It is not clear if the proceeds of Tata’s privately held investment firm, RNT Associates Singapore, will be transferred to the beneficiaries or encashed.

The Ratan Tata Endowment Foundation will address emerging and under-represented areas of philanthropy, promote research in future technologies and support long-term initiatives with significant social impact, according to people aware of the plans.