Following Sir Dorabji Tata’s death, the Jubilee diamond was sold to establish the Sir Dorabji Tata Trust, according to the Tata Group.
Lady Meherbai Tata, known as one of India's pioneering feminist icons, was set apart through her impactful actions rather than mere words. In his book, #Tatastories, Harish Bhat recounts how Lady Meherbai Tata played a crucial role in rescuing steel giant Tata Steel during a financial crunch. Sir Dorabji Tata, the elder son of Jamsetji Tata, purchased the 245.35-carat Jubilee diamond, a gem twice the size of the Kohinoor, for his wife Lady Meherbai from London merchants at a cost of around £100,000 in the early 1900s.
Lady Meherbai set the diamond in a platinum claw on a platinum chain, reserving it for special occasions.
However, in 1924, Tata Steel faced severe financial difficulties, struggling to pay employee wages. In a remarkable act of commitment, Sir Dorabji and Lady Meherbai Tata pledged their entire personal wealth, including the Jubilee diamond, to the Imperial Bank to secure funds for Tata Steel. Their sacrifice paid off as the company soon began generating returns, ensuring that not a single worker was laid off during that challenging period.
Following Sir Dorabji Tata’s death, the Jubilee diamond was sold to establish the Sir Dorabji Tata Trust, according to the Tata Group.
Lady Meherbai Tata was instrumental in shaping the Sharda Act, or the Child Marriage Restraint Act, passed in 1929. She campaigned vigorously for this cause both in India and abroad. Additionally, she was an active member of the National Women’s Council and the All India Women’s Conference.
On November 29, 1927, she advocated for the Hindu Marriage Bill in Michigan and demanded equal political status for women at the All India Women’s Conference in 1930. The International Women Suffrage News in London reported in 1921 that the Legislative Council of Bombay had passed a resolution supporting women’s suffrage. The report highlighted a significant public meeting at Wilson College Hall in Bombay, presided over by Lady Tata, which called for enfranchising the women of Bombay.
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