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New Delhi: The late industrialist Ratan Tata's beachfront villa in Seychelles has reportedly been put on sale. The family and associates of Aircel founder C Sivasankaran have indicated interest in buying the property for about $6.2 million (roughly Rs 55 crore), according to reports.
However, when asked about it, Sivasankaran was quoted as saying by The Times of India, “I don’t know what you are talking about.” According to the report, those familiar with the matter added that discussions have taken place, but “no formal agreement has been reached”.
Tata had bequeathed the Mahe-island villa to RNT Associates, his Singapore-based investment arm that backed several Indian startups.
The executors of Tata appointed independent valuers, who pegged the villa’s value at around Rs 85 lakh. This figure is seen as modest in relation to the offer now being discussed. Observers noted that the huge gap indicates that Sivasankaran family or their associates are willing to pay a premium, provided the asset is transferred free of any outstanding construction dues or taxes, the report said.
Sources said that Sivasankaran -- now a Seychelles citizen -- had helped Tata to purchase the villa by assisting him through the island nation’s restrictive property rules. As per local rules, only citizens are allowed to acquire real estate, but because Ratan Tata was considered a globally iconic industrialist and philanthropist, an exception was made by the officials.
In 1982, Seychelles had acknowledged Tata Motors’ contribution to its transportation sector by issuing a commemorative stamp. After 2004, Indian Hotels, the company behind the Taj brand, managed the Denis Island property. At present, neither Tata Motors nor Taj operates in the East African nation.
In recent interviews, Sivasankaran has mentioned about his long association with Tata. He had recounted how he visited Tata’s “ordinary 3-BHK home” in Mumbai’s Bakhtawar building at precisely 7:15am every day. He said he spent about 45 minutes with him, sometimes while Tata continued his workout “to save time”. Sivasankaran had also invested in Tata Group's telecom venture.
If the sale goes through, a Bombay high court order dated June 16, 2025, stipulates that the proceeds must be divided evenly between the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust. There's looming uncertainty over any arrangement as Sivasankaran is currently facing bankruptcy proceedings in the Seychelles Supreme Court.
