£35m in UK bank belongs to Hyd Nizam heirs, India: Court
Pak’s Claim To Money Rejected
London: The UK high court on Wednesday ruled in favour of India and the titular eighth Nizam of Hyderabad and his younger brother in a case they had been fighting against Pakistan relating to who has the rights to £35 million (Rs 306 crore) stashed away in a British bank account since Partition.
India, the Nizam and his brother, who are the grandsons of the seventh Nizam, have a confidential settlement on how to split the money.
The dispute centred on a corpus of £1 million and one guinea that on September 20, 1948 was transferred by the In 1948, Hyderabad’s finance minister
to the Westminster Bank (now NatWest Bank) account of Habib Ibrahim Rahimtoola, then Pakistan’s high commissioner in London.
The money has since
transferred £1 million
grown to £35 million ( 306 crore).
Osman Ali Khan,
said he had no knowledge of the money transfer and it was
The money in the frozen account is popularly known as Hyderabad Fund
done without his approval.
seventh Nizam’s finance minister, Nawab Moin Nawaz Jung, from a government bank account to another in London held by Pakistan’s then high commissioner to the UK, Habib Ibrahim Rahimtoola. This was during the Indian annexation of the princely state of Hyderabad.
Mir Osman Ali Khan, his grandsons Mukarram Jah (the present titular head) and Muffakham Jah, other members of the Nizam’s family, India (which entered into a pact with the Nizam’s family) and Pakistan
The grandson of the seventh Nizam, Mukarram Jah, and his younger brother Muffakham Jah have laid claim to the fund, saying it had been gifted to them in a trust set up by their grandfather on April 24, 1963. Pakistan, on the other hand, says it was a payment made by the erstwhile prince
India also claimed
ly state to Pakistan for arming Hyderabad when it was about to be invaded by India.
Justice Marcus Smith ruled on Wednesday the seventh Nizam was beneficially entitled to the £35 fund, as were the princes and India.