MUMBAI: Ratan Tata, who bequeathed the bulk of his assets to his philanthropic foundation and family members, however, transferred the ownership of three of his most cherished possessions – a pistol, shotgun and rifle – to Mehli Mistry, a longtime friend and business confidant. The weapons which were rarely used by Tata, despite being one of the country’s oldest gun licence holders, were either gifts or bequests from people closest to him.
One of them is believed to have been a gift from Sumant Moolgaokar, who was chairman of Tata Motors before Ratan Tata succeeded him in 1988; Moolgaokar enjoyed hunting before wildlife protection rules came into force. The other two firearms were inherited by Tata, one from his father Naval Tata and the second from JRD Tata, who was the longest-serving chairman of the Tata Group. These firearms were more symbols of his personal connection with these three individuals. Sources said Tata has transferred their ownership to his confidant and Tata Trusts trustee Mehli Mistry through his will.
According to J Sagar Associates partner Lalit Kumar: “Legally acquired firearms can be bequeathed but the beneficiary should have the license to hold, possess and use them.” Following Ratan Tata’s recent passing, his weapons were surrendered to the police armoury. To reclaim these weapons, Mistry must obtain a licence, citing their use for self-defence, sporting activities, or ornamental purposes. Sources said he could also register these firearms under his existing licenses, if he possesses any. Indian regulations have become stricter regarding firearm ownership, restricting the number of licensed weapons per individual.
It is anticipated that Mistry will likely opt for the ornamental category. If he does, the police will deactivate the firing pins, rendering the weapons incapable of discharging ammunition. In addition to the firearms, Tata’s beachfront property in Alibaug has also been bequeathed to Mistry. Their association dates back decades, starting when they resided at Bakhtawar, a residential building situated in Colaba, Mumbai. Tata later relocated to Halekai, a three-storey residence, also in Colaba, after retiring as Tata Group chairman in 2012.
Mistry, who co-manages M Pallonji Group with his brother Pheroze, gained attention during the legal dispute between Ratan Tata and Cyrus Mistry. Cyrus, who was removed from the chairmanship of the Tata Group in 2016, claimed that the M Pallonji Group had received preferential treatment due to Mehli’s connection with Ratan Tata. The Supreme Court dismissed these allegations. During this period, Mistry, who is Cyrus’s cousin, purchased Rs 235-crore worth of Tata Power shares in support of Ratan Tata’s stance, before ultimately exiting the energy company. In Oct 2022, Mistry joined the boards of Tata Trusts, the philanthropic organisation controlling the $165-billion Tata Group.
