{"id":19983,"date":"2026-09-03T23:13:45","date_gmt":"2026-09-03T23:13:45","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=19983"},"modified":"2026-09-03T23:13:45","modified_gmt":"2026-09-03T23:13:45","slug":"can-ratan-tatas-inherited-shares-go-to-his-charities","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=19983","title":{"rendered":"Can Ratan Tata\u2019s inherited shares go to his charities?"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-133748407,imgsize-865170,width-400,height-225,resizemode-4\/file-photo.jpg\" alt=\"Can Ratan Tata\u2019s inherited shares go to his charities?\" title=\"Ratan bequeathed his holding to two charitable vehicles he set up\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"Ratan bequeathed his holding to two charitable vehicles he set up\">Ratan bequeathed his holding to two charitable vehicles he set up<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>MUMBAI: The Maharashtra charity commissioner validated the 1989 transfer of 833 Tata Sons shares from the Navajbai Ratan Tata Trust (NRTT) to Naval Tata\u2014and in doing so, surfaced a little-known condition that\u2019s attached to the deal: the shares could be transferred or bequeathed only to the holder\u2019s own relatives, and not to third parties.<span class=\"id-r-component br\" data-pos=\"2\"\/>Naval split the shares among his wife Simone and his three sons, Ratan, Jimmy and Noel\u2014meaning the restriction followed the shares down the family line.<span class=\"id-r-component br\" data-pos=\"4\"\/>Nearly four decades on, that condition has taken on fresh weight over the fate of the Tata Sons shares Ratan inherited from his father.<span class=\"id-r-component br\" data-pos=\"6\"\/>Ratan bequeathed his holding to two charitable vehicles he set up: the Ratan Tata Endowment Fund (RTEF) and the Ratan Tata Endowment Trust (RTET). <!-- -->Simone passed her shares to her son Noel and his three children; Jimmy and Noel still hold theirs.<span class=\"id-r-component br\" data-pos=\"11\"\/>Ratan\u2019s shares remain part of his estate, administered by his executors, including two half-sisters Shireen and Deanna Jejeebhoy.<span class=\"id-r-component br\" data-pos=\"13\"\/>RTEF and RTET are separate legal entities\u2014third parties, not blood relatives. Ratan\u2019s bequest to the two foundations thus clashes directly with the family-only condition. Wednesday\u2019s order, signed by commissioner Amogh Kaloti, said NRTT\u2019s trustees \u201care at liberty to take appropriate steps\u201d if Ratan had bequeathed shares to charitable institutions breaching conditions attached to the original transfer. The order cites Naval Tata\u2019s \u201cexpress undertaking\u201d that his children would \u201ctransfer or bequeath the shares to their own relatives and not to a third party.<!-- -->\u201d<span class=\"id-r-component br\" data-pos=\"18\"\/>NRTT\u2019s trustees are Noel, Venu Srinivasan, Vijay Singh and JN Mistry. RTET\u2019s trustees include Noel, Shireen and Deanna.<span class=\"id-r-component br\" data-pos=\"20\"\/>People familiar with the matter said the estate can seek clarity from the Bombay high court on the restriction and its bearing on Ratan\u2019s bequest, transferring the shares to RTEF and RTET only after that. <!-- -->One person said the charity commissioner lacked judicial authority to compel a transfer to a family member or override a private will, arguing that the charitable bequest should stand if it reflected Ratan\u2019s stated wishes.<!-- --> Alternatively, members of Naval Tata\u2019s family can buy the shares, with the proceeds going to the two foundations as Ratan\u2019s will envisaged.<span class=\"id-r-component br\" data-pos=\"26\"\/>Any such transfer would require Tata Sons to be valued\u2014shares would have to change hands at fair value, not what\u2019s stated in book value. <!-- -->Under Ratan\u2019s will, RTEF gets 70% of his holding and RTET the remaining 30%. Naval had bought the 833 shares\u2014face value Rs 1,000 each\u2014 for Rs 15.9 lakh, paying Rs 1,914 apiece based on a wealth-tax valuation.<span class=\"id-r-component br\" data-pos=\"30\"\/>Ratan\u2019s stake is small in numerical terms. But Tata Sons is the holding company at the heart of the Tata conglomerate, and its shares are closely guarded. The 1989 restriction could now decide how this small but symbolically important holding changes hands.<span class=\"id-r-component br\" data-pos=\"32\"\/><\/p>\n<div data-pos=\"0\" class=\"id-r-component iIpbx undefined  &#10;        \">\n<div><img decoding=\"async\" alt=\"Can Ratan Tata\u2019s inherited shares go to his charities?\" msid=\"133746333\" imgsize=\"156342\" resizemode=\"4\" width=\"\" title=\"\" placeholdersrc=\"https:\/\/static.toiimg.com\/photo\/83033472.cms\" offsetvertical=\"0\" placeholdermsid=\"47529300\" type=\"thumb\" class=\"\" src=\"https:\/\/static.toiimg.com\/photo\/imgsize-156342,msid-133746333\/can-ratan-tatas-inherited-shares-go-to-his-charities.jpg\" data-api-prerender=\"true\"\/><\/div>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/can-ratan-tatas-inherited-shares-go-to-his-charities\/articleshow\/133748402.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ratan bequeathed his holding to two charitable vehicles he set up MUMBAI: The Maharashtra charity commissioner validated the 1989 transfer of 833 Tata Sons shares from the Navajbai Ratan Tata Trust (NRTT) to Naval Tata\u2014and in doing so, surfaced a little-known condition that\u2019s attached to the deal: the shares could be transferred or bequeathed only [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-19983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/1788477227_file-photo.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Ratan bequeathed his holding to two charitable vehicles he set up MUMBAI: The Maharashtra charity commissioner validated the 1989 transfer of 833 Tata Sons shares from the Navajbai Ratan Tata Trust (NRTT) to Naval Tata\u2014and in doing so, surfaced a little-known condition that\u2019s attached to the deal: the shares could be transferred or bequeathed only [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 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