India-Pakistan clash over Nizam of Hyderabad’s funds in U.K.

jatin
By jatin June 26, 2019 15:58

A decades-old legal dispute between India and Pakistan clash over around £35 million belonging to the Nizam of Hyderabad at the time of Partition and deposited in a London bank account has reached an important stage in the U.K. High Court.

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  • The Nizam’s descendants, Prince Mukarram Jah — the titular eighth Nizam of Hyderabad — and his younger brother Muffakham Jah, have joined hands with the Indian government in the legal battle against the Pakistan government over the funds lying with the NatWest Bank plc in London.
  • The two-week trial presided over by Justice Marcus Smith, has been presented with arguments from both sides in the case listed as The High Commissioner for Pakistan in the United Kingdom versus seven others, including the Nizam’s descendants, the Union of India and President of India.
  • The judge has been asked to determine the “central question” of who exactly is the “beneficial” owner of the funds belonging to the late Nizam Osman Ali Khan.

Background

  • The late Nizam Osman Ali Khan, who faced the quandary of joining Pakistan or staying with India in 1948 had transferred 1,007,940 pounds and nine shillings to the High Commissioner in Britain of newly-formed Pakistan.
  • Later, he reportedly sought the return of the funds.
  • NatWest Bank has since held on to the funds deposited into the account of then Pakistan High Commissioner Habib Ibrahim Rahimtoola in safekeeping until its rightful legal owner is established.

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Source: https://www.thehindu.com/news/international/india-pakistan-clash-over-nizam-of-hyderabad-funds-in-uk/article28137642.ece

jatin
By jatin June 26, 2019 15:58