The ‘Hyderabad Funds Case’ is set to reopen after a gap of 60 years. The case is going to be settled in an out of court settlement. The concerned parties India, Pakistan and the Nizam’s heirs will finally sit together to divide the wealth of the Nizam of Hyderabad, which is frozen in a bank of London. Immediately after the partition of India, over £1 million was clandestinely transferred in National Westminster Bank, London by the finance minister of the Nizam, Moin Nawaz Jung in the name of then Pakistan High Commissioner Habib Ibrahim Rahimtoola.  

 

The wealth in the bank account of London is currently valued between £25 and £50 million. The litigation over the wealth of Nizam was dealt with by Justice Lord Denning who had asserted that the account could only be unfrozen with the consent of all the concerned parties. Over the years the claimants to the wealth of Nizam Mir Osman Ali Khan has steadily been rising. The late Nizam who kept several wives in his harem, has more than 400 claimants for the frozen wealth in London. Earlier in the case of dispute over jewellery trust money, the wealth got divided into five factions of the family. It is very likely that the same groups are going to emerge for claiming the Bank’s money, according to a family source.