The Bombay High Court has clarified the fate of Ratan Tata’s listed and unlisted shares that were not explicitly mentioned in his final Will. These were held back when he passed on February 23, 2022, later amended through four codicils. Justice Manish Pitale ruled on June 16 that such shares—being part of the “rest and residue” of his estate—shall be equally split between two charitable entities: the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust .

The dispute stemmed from questions over whether these shares defaulted to individual beneficiaries (his half-sisters Shireen and Deanna Jejeebhoy, and confidante Mohini Dutta) under earlier clauses of the Will. However, the fourth codicil amended the definition of residual estate to include these unassigned shares, reinforcing Tata’s philanthropic intent . Thus, the Court confirmed that any listed or unlisted shareholding not specifically allotted must go to the two foundations, in equal parts This judgment concludes the remaining probate confusion and provides vital guidance on administering estates with similar “residue” clauses and multiple codicils.

sources