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.
Denne historien er fra August 20, 2017-utgaven av THE WEEK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 20, 2017-utgaven av THE WEEK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Themes Of Choice
As Savvy Investors Seek New Avenues, Thematic Mutual Funds Are Gaining Popularity
A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
Indian-Americans coming together under the Democratic umbrella could get Harris over the line in key battlegrounds
COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
Dasho Karma Ura, one of the world's leading happiness experts, has guided Bhutan's unique gross national happiness (GNH) project. He uses empirical data to show that money cannot buy happiness in all circumstances, rather it is family and health that have the strongest positive effect on happiness. Excerpts from an interview:
India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict