Industrialist-philanthropist Ratan Tata, who died earlier this month, has ensured “unlimited” care for his dog, Tito, in his will. Tito was adopted roughly six years ago after the death of Mr Tata's previous dog. He will be cared for by his long-time cook, Rajan Shaw. Setting aside wealth for pets is a common practice in the West, but it remains a rarity in India.
Ratan Tata, who died on October 9 at age 86, was known for his love for dogs. On social media, Tata frequently advocated for the welfare of stray dogs and encouraged others to show compassion towards them. He even dedicated himself to finding homes for abandoned pets and worked to ensure their safety.
According to a report in The Times of India, Ratan Tata, whose estate is estimated to exceed Rs 10,000 crore, also designated assets to various beneficiaries, including his foundation, brother Jimmy Tata, half-sisters Shireen and Deanna Jejeebhoy, and household staff members.
Mr Tata's will also has arrangements for his butler, Subbiah, with whom he maintained a close bond for over three decades.
The will also mentions Shantanu Naidu, Mr Tata's executive assistant. According to the report, he has relinquished his stake in Mr Naidu's companionship venture, Goodfellows, while also covering his educational expenses abroad.
Among his assets are a 2,000-square-foot beach bungalow in Alibaug, Maharashtra, a two-storey residence on Mumbai's Juhu Tara Road, and fixed deposits exceeding Rs 350 crore. He also holds a 0.83% stake in Tata Sons, the parent company of the $165-billion Tata Group.
In line with the Tata Group's legacy of donating shares to charitable trusts, his stake in Tata Sons will be transferred to the Ratan Tata Endowment Foundation (RTEF). Beyond shares in Tata Sons, Ratan Tata's interests in other Tata Group enterprises, including Tata Motors, will also be redirected to RTEF.
The Halekai house in Colaba, where he lived until his death, is owned by Ewart Investments, a wholly-owned subsidiary of Tata Sons, which will determine its future. Mr Tata's portfolio of 20-30 luxury vehicles is currently at his Halekai residence and the Taj Wellington Mews service apartments in Colaba. The future of this collection remains under deliberation, with possibilities, including acquisition by the Tata Group for exhibition in its Pune museum or auctioning.
The Juhu property on a quarter-acre plot, overlooking the beach, was inherited by Ratan Tata and his family following the death of his father, Naval Tata. It has reportedly remained closed for over two decades, with discussions on for its potential sale.
The probate process for his will is expected to take several months. It will be examined by the Bombay High Court.
from NDTV News- Topstories https://ift.tt/LBCYg92
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