Around 120 descendants have stake in Nizam's funds: Grandson
A day after a UK court ruled in India’s favour over funds belonging to the late 7th Nizam of Hyderabad now worth around 35 million pounds, one of his grandsons here on Thursday (October 3) said the amount would have to be shared among around 120 descendants who according to him have stakes in it.
Nawab Najaf Ali Khan, grandson of Nizam VII Nawab Mir Osman Ali Khan Bahadur and president of the Nizam Family Welfare Association, said approximately there were 120 family members who have their right of share in the money and they would all discuss and decide about distribution of the funds. They have given me absolute mandate and I am representing them, Najaf Ali Khan told PTI here.
The UK High Court had on Wednesday ruled in favour of India and dismissed Pakistans claim over the funds belonging to the late 7th Nizam of Hyderabad at the time of Partition in 1947, settling a over 70-year long legal dispute. The Nizam’s descendants, Prince Mukarram Jah – the titular eighth Nizam of Hyderabad – and his younger brother Muffakham Jah, joined hands with the Indian government in the legal battle against Pakistan for possession of over around 35 million pounds lying with NatWest Bank plc in London. “They (Prince Mukarram Jahand and Muffakham Jah) alone cannot take over the amount…,” Najaf Ali Khan said.
The family members, including the Prince and his younger brother, would sit and discuss over the disbursal of the amount and if the issue was not sorted out there was an option
to move the court, he said. “If they (the Prince and his brother) dont agree (over distribution) we will approach court… definitely… why not?” Najaf Ali Khan said, when asked will they move the court if the issue on distribution of fund was not resolved.
He, however, said there was a four-week window available for Pakistan to go in for appeal.
After that, our solicitors with consensus will solve the problem on how to distribute the money, he said. He further said the major obstacle (over fund distribution) was Pakistan. Now it is among the other parties to have an understanding…nobody wants to fight for the money. Ultimately,we will sit and sort out the issue and we will decide.
Welcoming the court verdict, Najaf Ali Khan on Wednesday said he had tried for an out of court settlement with Pakistan in 2008 with regard to the disputed amount but the neighbouring country did not respond.