(Updated on April 13)
From The Telegraph, UK:
The case is further complicated by the late Nizam having sired over 100 illegitimate children from 86 mistresses who may lay claim to the fortune as rightful beneficiaries. But the Nizam’s grandson, now living in Istanbul in a small apartment after having lost most of his family fortune in India and Australia, is likely to be one of the main parties in the negotiations.
The Nizam’s surviving 173-piece jewel collection, that is periodically displayed at various museums across India includes the legendary 187.75 carat Jacob diamond, the world’s fifth-largest diamond which is valued at over £100 million.
Finally, India settles the one million pound Nizam dispute. Rahul Bedi in The Telegraph has that report.
India has opted for an out-of-court settlement with Pakistan and the heirs of the Nizam or ruler of Hyderabad State, once the world’s richest man, to resolve a piquant six-decade old dispute over a million pounds.
The money, which has lay in a London bank account since 1948, has since grown to around £30 million. Known as the ‘Hyderabad Funds Case’, the dispute centres around £1,007,940 and nine shillings that were transferred in 1948 from the Nizam of Hyderabad to Habib Ibrahim Rahimtoola, the high commissioner to London of the newly-formed Pakistan.
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