Tata’s 3 valuable weapons go to Mehli Mistry

Mumbai: Ratan TataBut, having bequeathed the bulk of his assets to his charitable foundation and family members, he transferred ownership of three of his most valuable items—a pistol, shotgun, and rifle. Mehli Mistrymy long time friend and business confidant. Despite being one of the country’s oldest arms license holders, the weapons Tata rarely used were either gifts or inheritances from people closest to him.
One of these is believed to be a gift from Sumant Moolgaokar, who was chairman of Tata Motors before he was succeeded by Ratan Tata in 1988; Moolgaokar loved hunting before wildlife protection rules came into effect. the other two firearms Tata inherited one from his father, Naval Tata, and the second from JRD Tata, the company’s longest-serving chairman. Tata Group. These firearms were more symbols of his personal bond with these three people. Sources said Tata transferred ownership to his confidant. Tata Trusts through the will of trustee Mehli Mistry.

According to Lalit Kumar, partner at J Sagar Associates: “Lawfully acquired firearms can be inherited but the beneficiary must have a license to keep, possess and use them.” After Ratan Tata’s recent demise, his weapons were handed over to the police armory. To retrieve these weapons, Mistry needs to obtain a license specifying their use for self-defence, sporting activities or ornamental purposes. Sources said that he can also register these firearms under his existing licenses, if any. Regulations in India have become stricter on firearm ownership and restrict the number of licensed guns per capita.
Mistry is likely to opt for the ornamental category. If he does this, police will disable the firing pins, causing the guns to become unable to fire ammunition. In addition to the firearms, Mistry also inherited Tata’s beachfront property in Alibaug. The history of their association goes back decades, starting from the time when they resided in Bakhtawar, a residential building in Colaba, Mumbai. Tata later moved to Halekai, a three-storey residence also in Colaba, after retiring as chairman of the Tata Group in 2012.
Mistry, who runs the M Pallonji Group along with his brother Pheroze, came into limelight during the legal dispute between Ratan Tata and Cyrus Mistry. Cyrus, who was removed from the Tata Group chairmanship in 2016, claimed that M Pallonji Group received preferential treatment due to Mehli’s connection with Ratan Tata. The Supreme Court rejected these claims. During this period, Cyrus’ cousin Mistry bought Tata Power shares worth Rs 235 crore to support Ratan Tata’s stance before leaving the power company. Mistry joined the boards of Tata Trusts, the philanthropic organization that controls the $165 billion Tata Group, in October 2022.