MUMBAI: The beachfront villa of the late industrialist Ratan Tata in Seychelles is currently on the market. The former chairman of Tata Group left his property on Mahe, the largest island of the archipelago, to RNT Associates, his Singapore-based fund supporting Indian startups, as specified in his will. Valuators appointed by the will’s executors estimated the property at a modest Rs 85 lakh.
According to sources, Aircel founder C. Sivasankaran and his family have expressed interest in acquiring the property for $6.2 million (approximately Rs 55 crore). When approached by TOI, Sivasankaran commented, “I don’t know what you are talking about.” Despite preliminary discussions, no formal agreement has been finalized.
Notably, it was Sivasankaran, who is a Seychelles citizen, that assisted Ratan Tata in purchasing the property. Under Seychelles law, only citizens can own property, but an exception was made for Tata due to his international stature as a businessman and philanthropist.
In 1982, Seychelles honored Tata Motors with a commemorative stamp recognizing its contributions to the nation’s transportation. Following 2004, Indian Hotels (Taj) managed the Denis Island property, but currently, neither Tata Motors nor Taj has business interests in Seychelles.
Sivasankaran, 69, recently reminisced about his bond with Ratan Tata. For seven years, he visited Tata’s “ordinary 3-BHK home” in Mumbai’s Bakhtawar building daily at 7:15 AM, spending about 45 minutes together, often finding Tata engaged in a workout during their meetings.
An admirer of Tata’s generous spirit and composed nature, Sivasankaran recounted a harrowing flight from Singapore to Seychelles when an engine failure occurred, prompting passenger panic. While Sivasankaran emailed his son his Gmail password in fear, Tata remained calm, stating, “Let the pilots do their job.”
Their relationship also led Sivasankaran to invest in Tata Group’s telecom venture. Should the sale proceed, the profits will be evenly divided between the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust, as per a Bombay High Court order dated June 16, 2025, which validated the will.
The notable gap between the property’s valuation and Sivasankaran’s $6.2 million offer indicates a willingness to pay a premium. His son, Saravana Sivasankaran, 41, founder of Marlo Technologies, is also involved, with indications that they expect the property to be free from any outstanding construction debts or taxes.
The arrangement’s specifics are uncertain, especially with Sivasankaran’s ongoing bankruptcy case in the Seychelles Supreme Court. “My case is pending in the Supreme Court. When it is heard, I will get my money back,” said Sivasankaran, who previously owned two islands in Seychelles and properties around the world.
“I am not poor. Many people in India think I am poor. No, I am broke,” the serial entrepreneur remarked. He founded Sterling Computers, Dishnet DSL Internet services, and the Fresh & Honest coffee vending chain, with his net worth once estimated over $4 billion.
