Mumbai: The late Ratan Tata named lawyer Darius Khambata and close friend and associate Mehli Mistry as executors of his will, along with half-sisters Shireen and Deanna Jejeebhoy, according to executives with knowledge of the matter. Tata died on October 9 at the age of 86, with half-brother Noel Tata succeeding him as Tata Trusts chairman.Mehli Mistry was a confidante of Ratan Tata and a trustee on the board of the two main Tata charities, the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which together hold around 52% in Tata Sons, the holding company of the Tata Group. The Tata Trusts collectively hold a 66% stake in Tata Sons.Ratan Tata held a 0.83% stake in Tata Sons and had a net worth of Rs 7,900 crore, according to the Hurun India Rich List 2024 released in August this year. He was always keen that a significant portion of his wealth go to charity and society. The details of his will are private. The market value of Tata Sons’ stake in the group’s listed entities is about Rs 16.71 lakh crore.Mistry was not reachable for comment and neither were the Jejeebhoys. They are daughters of Ratan Tata’s mother Soonoo from her second marriage to Sir Jamsetjee Jejeebhoy.The sisters have always been involved in philanthropy. Deanna had been a trustee on the board of the Ratan Tata Trust in the 1990s and early 2000s. The late Ratan Tata was known to be close to his much younger sisters, said an ex-Tata executive.Advocate Kambatta returned last year as a trustee at the two primary trusts after a hiatus of almost seven years. He had quit the Trusts in 2016 citing professional commitments.Ashish Kumar Singh, partner at Capstone Legal, said the executor of the will is required to fulfill the last wishes of the deceased, keeping in mind the applicable laws.“It is also a settled principle of law that until the will is not executed, the executors have the responsibility to maintain the assets in the same manner as the deceased person would have, if they would have been alive,” Singh said. “Generally, the deceased person places the executor in a position to dispose of any assets which are not specifically mentioned in the will as per their discretion but if no such specific mention is done, then the assets are divided as per personal law of the deceased person.”RNT Associates Pvt. Ltd, Ratan Tata's personal investment vehicle, held investments worth Rs 186 crore until FY23. These are pegged at the original cost of acquisition and not current market value, which could have risen since. Mistry and Ratan Tata were the only two board members of RNT Associates. A first cousin of the late Cyrus Mistry, he consistently backed Ratan Tata in the row over the former’s ouster as Tata Sons chairman. He was also involved in caring for Ratan Tata in recent years, when the latter wasn’t in good health.In October 2022, Mistry was inducted on the boards of two of the largest Tata Trusts. He’s on the board of over a dozen companies of the M Pallonji Group, which is engaged in paints, dredging operations, logistics, shipping, finance, auto dealerships and life insurance. He is also on the board of Breach Candy Hospital, the Advanced Veterinary Care Foundation and the Tata Indian Institute of Social Skills.Advocate Darius Khambata clarified, "I’ve not drafted Mr Ratan Tata’s will nor advised him on its contents. I saw his will for the first time after he passed away."