London court orders Pak to pay £150,000 to India in Nizam Funds case

Hyderabad / London, March 23 , 2015: In the historically sensational Hyderabad funds' transfer case that has been awaiting legal solution since 1948, a London Court has ordered Pakistan government to pay £150,000 to India towards legal fee. Going into the details of the case, a fund of £1,007,940 and 9 Shillings was transferred to the bank account of Pakistan High Commissioner in London at the reported orders of the then Finance Minister of Nizam in September 1948. Two days later, the Nizam informed the British and the banks that he never ordered the transfer of the amount. Following this, the funds' transfer became a dispute which had later internationally become famous as the Hyderabad Funds Transfer case. The fund has now grown into a massive £35 million equaling to Rs. 326 Cr. The dispute is pending for the last 67 years in a London court. Besides the Nizam family, both Indian and Pakistan Governments are claiming rights over the fund. The moot question now everyone is asking is whether Telangana Chief Minister KCR will also join the list of claimants to the fund.