Home Business Ratan Tata bequeaths over ₹3 crore to staff, allocates funds for pet dog

Ratan Tata bequeaths over ₹3 crore to staff, allocates funds for pet dog

Industrialist Ratan Tata's will reveals generous financial allocations to longtime staff and endowments to charitable trusts.

by bodhiwire
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Mumbai, April 3: Industrialist Ratan Tata has left over ₹3 crore to his home and office staff in his will, with specific allocations for longtime employees and personal aides. The majority of his ₹3,800-crore estate has been endowed to the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust.

According to his will, domestic servants who served for seven years or more will receive ₹15 lakh, distributed based on their years of service, while part-time helpers and car cleaners will receive ₹1 lakh.

Among his staff, Tata’s longtime cook, Rajan Shaw, was bequeathed over ₹1 crore, including a loan waiver of ₹51 lakh. His butler, Subbaiah Konar, will receive ₹66 lakh, which includes a loan waiver of ₹36 lakh. His secretary, Delnaz Gilder, was left ₹10 lakh.

Tata’s will also directed that his clothes should be donated to NGOs for distribution among the underprivileged. Additionally, he waived a ₹1 crore loan to his executive assistant, Shantanu Naidu, which was taken for an MBA at Cornell University. Other waived loans include an unspecified amount for a neighbor and ₹18 lakh for his driver, Raju Leon.

“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/driver,” Tata stated in his will, dated February 23, 2022.

His pet German Shepherd, Tito, was allocated ₹12 lakh, with ₹30,000 to be disbursed every quarter. The dog will remain under the care of Tata’s cook, Rajan Shaw.

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