Union Cabinet may take up Nizam's cash case

Discussion in 'Economy & Infrastructure' started by feathers, Feb 16, 2014.

  1. feathers

    feathers Tihar Jail Banned

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    Union Cabinet may take up Nizam's cash case

    NEW DELHI: Feb 16, 2014 DHNS


    The Union cabinet is expected to take a decision next week elaborating the stand the UPA government will take in Britain to stake claim on erstwhile Hyderabad Nizam’s Rs 310 crore lying in one of their banks post-independence.

    The contentious ‘Hyderabad Funds Case’ is likely to be revived in High Court Chancery in London soon given the fact out of court settlement between three parties — India, Pakistan and an heir of former princely state has failed.

    The Union Cabinet under Prime Minister Manmohan Singh will go through legal opinion external affairs ministry officials had sought from their law ministry counterpart.

    The government sources do not rule out the possibility of India filling an appeal in the British Court to counter Pakistan’s locus standi on the grounds that the money belongs to them since the princely state with all its assets was merged into the country.
    In April 2013, Pakistan had staked claim over the cash seeking vacation of stay order of the London court.

    Nizam of Hyderabad had held an account in UK’s Westminster Bank (later rechristened as NatWest Bank) having a balance of 1 million pound before Independence.

    The Nizam’s finance minister prior to the Hyderabad princely state’s annexation into India in September 1948 had illegally wired the amount to the then Pakistan’s High Commissioner to UK. Nizam’s account was closed.

    The then Nizam had dragged his finance minister and then Pakistan High Commissioner Ibrahim Rahimtoohla to a British court. House of Lords, however, had stayed court proceeding in 1957 after Pakistan sought sovereign immunity from legal battle.

    A grandson of Nizam had also claimed that the money belonged to him.

    Since then, the dispute remains despite diplomatic attempts to resolve the issue.
     
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  3. feathers

    feathers Tihar Jail Banned

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    All members please give your opinions .
     
  4. sayareakd

    sayareakd Moderator Moderator

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    how the hell Pakis got claim to this money???
     
  5. feathers

    feathers Tihar Jail Banned

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    This money doesn't belongs to them and they know this.
     
  6. anoop_mig25

    anoop_mig25 Senior Member Senior Member

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    Well would british would allow this amount of money to leave England
     
  7. A chauhan

    A chauhan "अहिंसा परमो धर्मः धर्म हिंसा तथैव च: l" Senior Member

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    310 Crores with interest or without interest ?
     
  8. feathers

    feathers Tihar Jail Banned

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    This money was over took by British Government and put into some kind of investment in construction or development cant say for sure .
     
  9. feathers

    feathers Tihar Jail Banned

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    India Ready to Battle Pak Over Nizam Booty in UK - The New Indian Express

    Sources confirmed that the Law Ministry has forwarded a legal advisory note to the Ministry of External Affairs suggesting various mechanisms to be adopted if India wants to join the proceedings in a British court. However, they said any such steps could be taken only after Cabinet approval.

    “This may take years to resolve in the court since all three parties have made claims to the Nizam’s money. The government needs to hire a battery of lawyers to prepare its case in a London court which may cost huge amount of money and it cannot be processed without approval,” a source said.


    The Law Ministry in letters in December 2013 and January 2014 suggested instituting fresh proceedings against NatWest and Pakistan. The move came after the Pakistan High Commissioner on April 3, 2013 proposed to initiate a civil action against the bank for release of the money saying it has legal title over the Nizam’s money. But, on November 23, 2013 it again approached the court serving a notice of discontinuance of proceedings.

    Law Ministry is of the view that by instituting a fresh civil action for release of the funds, Pakistan has voluntarily submitted to the jurisdiction of the court and waived its immunity.
     
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  10. feathers

    feathers Tihar Jail Banned

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    its time for Indian Muslims to open their eyes and see how much Pakistan is doing injustices by claiming the money which belongs to the people of Nizam state.
     
  11. tramp

    tramp Senior Member Senior Member

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    Pakistan loses sovereign immunity over Hyderabad Funds

    NEW DELHI: The riveting, 67-year-old India-Pak Hyderabad Funds saga has taken another turn with High Court of Justice in London ruling that Pakistan no longer has sovereign immunity over the State of Hyderabad's wealth. All these years, India has been forced to deal with Pakistan bilaterally to recover the funds because in 1957 Pakistan invoked its right to sovereign immunity from any court proceedings in Britain on this issue, thereby blocking any possibility of recovering these funds through the legal route.

    Hyderabad Funds refers to the 1,007,940 Pound Sterling and 9 Shillings transferred from the erstwhile State of Hyderabad's bank account in National Westminster Bank in London to an account in the same bank, of the then Pakistan high commissioner to UK on September 20 1948, just 2 days after the Nizam decided to accede to India. The money is currently valued around 35 million Pound Sterling and has 3 claimants - Pakistan, India and Nizam's family.

    READ ALSO: India, Pak keen to settle dispute over Nizam's wealth

    As the successor state to the Nizam's State of Hyderabad, India has all along maintained its claim over the money. Faced with no prospect of recovering the money through the Courts, ever since the 1960s the Indian cabinet has been approving efforts aimed at pursuing an out-of-court settlement with Pakistan and Nizam's heirs to recover what in the past has often been referred to as the sacred inheritance of the people of India.

    With Pakistan no longer longer enjoying its state immunity over the funds, India has once again got the chance to seek a recovery of this inheritance through the legal route. According to the Indian government officials, the Funds were not private monies of the Nizam but monies that are referred to as State monies. The transfer to the account of the Pakistan High Commissioner took place on the instructions of the Nizam's finance minister who may have been an authorized signatory to the account, but he did it without the consent of the Nizam's Government as the Nizam himself later confirmed. ``These instructions were irregular in as much as the Finance Minister of the Nizam's Government had no power to withdraw this money without the express sanction of the Nizam or the State Government. The Nizam's subsequent instructions to retransfer the funds were not complied with,'' the government had said in a statement earlier.
     
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  12. cobra commando

    cobra commando Tharki regiment Veteran Member Senior Member

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  13. SREEKAR

    SREEKAR Senior Member Senior Member

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    They are beggars .
     
  14. SREEKAR

    SREEKAR Senior Member Senior Member

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    No they won't
     
  15. archie

    archie Regular Member

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    I think its current value.. original was approx 1 million £ .. currently valued at 35 million £ ~ 310 cr INR
     

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