HYDERABAD: With the
Business and Property Courts of England and Wales
ruling that India and legal heirs of
Mir Osman Ali Khan
, the last Nizam of princely state of Hyderabad, are entitled to the
£35 million (Rs 306 crore) held up in the NatWest Bank since September 1948 , the focus now shifts to the distribution of money among the claimants.
According to sources in the Nizam’s family, the money will be shared by Indian government, and the Nizam estate represented by Mukarram Jah and Muffakham Jah, grandsons of the Nizam, and 120 others who were part of the “estate”.
Nizam’s another grandson, Najaf Ali Khan, who heads the Nizam’s Family Welfare Association, had impleaded in the case along with about 120 legal heirs of the former ruler. They all now form part of the Nizam estate, which was supported by India, against Pakistan’s claim over the money, popularly known as Hyderabad Fund.
The Nizam estate had a secret understanding with Indian government and as per the deal, the amount will be shared between the claimants. Whether the Indian government will claim its share is not known as the deal has been kept under wraps.
According to city historians, more than money, it was a prestige issue for India and Pakistan. However, for the cash-poor claimants of the Nizam family, Wednesday’s judgment has come as a bonanza. Except for a couple of members of the erstwhile royal family, most claimants struggle to make both ends meet, family sources told TOI.
The secret deal notwithstanding, distribution of Hyderabad Fund is also subject to court’s approval. Justice Marcus Smith, who delivered the judgment, had noted “Nizam VII was beneficially entitled to the Fund and those claiming in right of Nizam VII — the princes and India — are entitled to have the sum paid out to their order. I will leave it to the parties to frame an appropriate form of order for my approval”. This in other words means that the claimants should sit with the Indian government and strike at an understanding to be presented before the judge for final approval before disbursal of the money.
Family sources said only those members of the Nizam’s family who had impleaded in the case will get the money. The share will be known only after the family submits the claim details to the court. And if Pakistan prefers an appeal, the legal battle will continue, and the money will remain with the NatWest Bank.
Stay updated with the latest news on Times of India. Don't miss daily games like Crossword, Sudoku, and Mini Crossword.Syed Akbar is a senior journalist from Hyderabad. He is a special...
Read MoreSyed Akbar is a senior journalist from Hyderabad. He is a specialist-journalist in science, technology, health, politics, environment, development, wildlife, religion, communities, and consumer affairs. He has been in the profession for the last 24 years. Before joining The Times of India, he worked with Deccan Chronicle and Indian Express.
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