The Nizams were India’s wealthiest royal family. Not any more
No one really knows where all the wealth has gone. Mir Osman Ali Khan, the seventh Nizam of Hyderabad (1911-1967), was considered the richest man in the world with a fortune of $2 billion. The Time magazine put him on the cover of its February 22, 1937 issue. For long his family wanted to know where all the money had gone. Now they are fighting for what is left. “The fight is between two grandsons of the Nizam, Prince Mukarram Jah, the crown heir, and his brother Prince Muffakham and the rest of the family,” said Nawab Najaf Ali Khan, one of the grandsons of Mir Osman Ali Khan. He is also the president of the Nizam Family Welfare Association. The family has nominated him to take care of the legal aspects of the dispute.
“I look after the untouched issues, which are pending in the form of assets and money,” he said. “I have been given absolute mandate from the 120 or so whom I am representing in the UK High Court, claiming the Nizam's money, which has been deposited with North Westminster Bank, now called Royal Bank of Scotland. This wealth is also being claimed by the two grandsons and the governments of Pakistan and India.”
Moin Nawaz Jung, who was Mir Osman Ali Khan's finance minister, transferred one million pounds to North Westminster Bank a day before Operation Polo, the military action that annexed Hyderabad to the Indian Union in September 1948. Currently the amount has grown to 36 million pounds. “It has been in litigation since 1956,” said Nawab Najaf.
Esta historia es de la edición August 20, 2017 de THE WEEK.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 20, 2017 de THE WEEK.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Olympics, 2036: Host And Ghosts
The Indian Olympics Association (IOA) has sent the International Olympics Committee (IOC) its ‘letter of intent’ to host the Olympics in 2036—appositely enough the centenary of the very year, 1936, when Adolf Hitler hosted the Games in Berlin!
The female act
The 19th edition of the Qadir Ali Baig Theatre Festival was of the women and by the women
A SHOT OF ARCHER
An excerpt from the prologue of An Eye for an Eye
MASTER OF MAKE-BELIEVE
50 years. after his first book, Jeffrey*Archer refuses to put down his'felt-tip Pilot pen
Smart and sassy Passi
Pop culture works according to its own unpredictable, crazy logic. An unlikely, overnight celebrity has become the talk of India. Everyone, especially on social media, is discussing, dissing, hissing and mimicking just one person—Shalini Passi.
Energy transition and AI are reshaping shipping
PORTS AND ALLIED infrastructure development are at the heart of India's ambitions to become a maritime heavyweight.
MADE FOR EACH OTHER
Trump’s preferred transactional approach to foreign policy meshes well with Modi’s bent towards strategic autonomy
DOOM AND GLOOM
Democrats’ message came across as vague, preachy and hopelessly removed from reality. And voters believed Trump’s depiction of illegal immigrants as a source of their economic woes
WOES TO WOWS
The fundamental reason behind Trump’s success was his ability to convert average Americans’ feelings of grievance into votes for him
POWER HOUSE
Trump International Hotel was the only place outside the White House where Trump ever dined during his four years as president
