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The passing of Ratan Tata, the esteemed industrialist and philanthropist, has left behind a legacy that extends beyond his business ventures. In his will, Tata has ensured the well-being of his beloved dog, Tito, a testament to his deep compassion for animals. Tito, adopted six years ago following the loss of Tata's previous dog, will be cared for by Rajan Shaw, Tata's long-time cook, with 'unlimited' provisions outlined in the will. This practice, while common in Western societies, remains relatively rare in India, showcasing Tata's progressive stance on animal welfare.
Beyond Tito's care, Tata's will meticulously details the distribution of his substantial estate, estimated to exceed Rs 10,000 crore. The beneficiaries include his foundation, brother Jimmy Tata, half-sisters Shireen and Deanna Jejeebhoy, and household staff members, reflecting his commitment to both family and those who served him. The will also makes specific arrangements for his butler, Subbiah, with whom he shared a close bond spanning over three decades.
Notable in the will is the provision for Shantanu Naidu, Tata's executive assistant. Tata relinquished his stake in Naidu's companionship venture, Goodfellows, and covered his educational expenses abroad, highlighting a personal investment in Naidu's future. The will further reveals Tata's extensive assets, including a beach bungalow in Alibaug, a residence in Mumbai, fixed deposits exceeding Rs 350 crore, and a 0.83% stake in Tata Sons, the parent company of the $165-billion Tata Group.
In keeping with the Tata Group's philanthropic tradition, Tata's stake in Tata Sons will be transferred to the Ratan Tata Endowment Foundation (RTEF). Beyond shares in Tata Sons, his interests in other Tata Group enterprises, including Tata Motors, will also be directed to RTEF. The future of his residence in Colaba, known as Halekai house, owned by Ewart Investments, a subsidiary of Tata Sons, will be determined by the company.
The fate of Tata's collection of 20-30 luxury vehicles, currently at his Halekai residence and service apartments in Colaba, remains under deliberation. Potential options include acquisition by the Tata Group for exhibition in its Pune museum or auctioning. The Juhu property, overlooking the beach, inherited from his father, Naval Tata, has reportedly remained closed for over two decades and is being considered for sale.
The probate process for Tata's will is expected to take several months and will be examined by the Bombay High Court. This comprehensive distribution plan, with its focus on family, staff, animal welfare, and philanthropic endeavors, encapsulates Ratan Tata's life of generosity and commitment to both personal and societal well-being.
Source: In His Will, Ratan Tata Ensures "Unlimited" Care For His Dog 'Tito'