New Delhi: Ratan Tata has bequeathed the majority of his wealth conservatively valued at Rs 38000000000 including ordinary and preference shares of Tata Sons and other assets to the Ratan Tata Endowment Foundation a Section 8 company and the Ratan Tata Endowment Trust dedicated to philanthropic and charitable initiatives. It is important to note that the late industrialist’s named at least two dozen beneficiaries including brother Jimmy Tata two half-sisters Shireen Jejeebhoy and Deanna Jeejeebhoy former confidant Mohini Dutta and his foundations Ratan Tata Endowment Foundation (RTEF) and Ratan Tata Endowment Trust (RTET). I hereby direct that whosoever contests or challenges this last will of mine in any manner shall forego all the rights or benefits under my will and shall not get any legacy that I may have bequeathed to that person and he or she shall have no right whatsoever over any part of my estate reads Ratan Tatas will dated February 23 2022. Last week the executors of Ratan Tata’s will filed a petition with the Bombay High Court to probate it a copy of which is in The Times of Indias possession. They estimate the value of his estate including movable and immovable assets in India and abroad at approximately Rs 3900 crore—a highly conservative figure. This is primarily because Tata’s most significant asset his 3368 shares in Tata Sons the holding company of the USD 165 billion Tata Group is valued at a book price of ₹1684 crore. The Tata Sons stake will go to his two foundations with 70% going to RTEF and the rest to RTET. In his will he has said his Tata Sons shares cannot be sold or transferred except to an existing shareholder of the company. It is important to note that RNT had first made his will on April 18 1996 five years after he became the chairman of the Tata Group. The amendment was made in November 2009. Both wills were revoked and the “last will” was made on February 23 2022. Thereafter he made changes to it four times. The will has been signed by two witnesses his CA Dilip Thakkar and physician Porus Kapadia. It is important to note that RNT had first made his will on April 18 1996 five years after he became the chairman of the Tata Group. He amended it in November 2009. Both wills were revoked and the “last will” was made on February 23 2022. Thereafter he made changes to it four times. The will has been signed by two witnesses his CA Dilip Thakkar and physician Porus Kapadia. A lawyer stated that he can file an originating summons with the court to seek an interpretation of the late industrialist’s will. However given Ratan Tata’s explicit instruction that any beneficiary contesting the will would forfeit their rights or benefits in the estate Dutta can only request a legal interpretation. This would not be considered a challenge to its validity ensuring that he does not lose his share under the no-contest clause. Challenging a will that is questioning its validity is different from seeking its interpretation with the former triggering forfeiture said the lawyer. Jimmy who will inherit RNT’s share in their family property in Juhu Mumbai worth Rs 16 crore as well as his jewellery has filed a no-objection certificate with the court regarding his elder brother’s will. RNT a bachelor died in October 2024 and had no children. The Indian Succession Act as applicable to Parsis recognizes full siblings in the hierarchy of heirs over half-siblings.