The UK High Court Today passed a ruling in favour of the successors of 7th Nizam of Hyderabad regarding the 1 million pounds deposited in London Bank in the year 1948. The value of this sum has increased to 35 million pounds by now.
UK High Court dismissed the claim of Pakistan that the fund sent by 7th Nizam was meant for payment of Arms Shipments or as an Outright Gift. The Court maintained that only the heirs of 7th Nizam could claim ownership of the huge sum held by the National Westminster Bank in London.
Since September 1948, The fund sent by 7th Nizam of Hyderabad has been held in the account of the High Commissioner of Pakistan to the UK Rahimtoola. In the 50s, UK House of Lords stalled the proceedings conducted by 7th Nizam terming the fund as Pakistan invoked state immunity. In 2013, Pakistan launched fresh proceedings by waiving state immunity. Thereafter, A UK Court rejected the attempt of Pakistan to discontinue the proceedings.
Today, The UK High Court declared that India and the two Grandsons of 7th Nizam were entitled to receive the 35 million pounds fund in the National Westminster Bank in London.
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