NEWSLINKS US EDITION SOUTH ASIA COLUMNISTS DIARY SPECIALS INTERVIEWS CAPITAL BUZZ REDIFF POLL DEAR REDIFF THE STATES ELECTIONS ARCHIVES SEARCH REDIFF
The former Nizam of Hyderabad Mir Barkat Ali Khan, better known as Mukarram Jah, has struck it rich getting Rs 740 million after seven years of court battle to reach a settlement on sharing the sale proceeds of Nizam jewels.
The 173-piece jewellery of Jah's grandfather, Mir Osman Ali Khan, the seventh Nizam of Hyderabad, had fetched Rs 2.18 billion in January 1995 after years of legal battle between the Nizam's jewellery trust and the Centre.
Of this huge proceed Jah (67) was to get Rs 530 million in addition to his own share of Rs 210 million.
Jah was entitled for Rs 530 million being the legal heir of his uncle, aunt and paternal uncle as per the trust deed.
It said Jah is entitled for additional shares being the head of the family in order to maintain the dignity of the Asif Jah house.
In 1995, some of his relatives challenged the role of Jah as head of the family as he is now settled in Turkey.
The trustees, meanwhile, decided to invest the amount of Rs 530 million, which swelled to Rs 1.13 billion by the time dispute was settled.
The lower court upheld the contention of the relatives and ordered distribution of corpus of Rs 540 million.
Jah challenged the lower court judgment in the high court. Fearing that the legal battle will run for many years and the huge sum would again get stuck up, Jah's legal advisors, his wife, son and mother started making efforts to hammer out an understanding.
In this connection Jah's family made trips to Hyderabad and explored possibilities of amicable settlement. Under the agreement which was submitted to the court on June 24 last, out of Rs 1.13 billion, Jah received about Rs 530 million, his brother Rs 140 million, his mother London-based 95-year-old princess Durrushewar Rs 50 million, sources said.
Jah's cousins got about Rs 40 million while 476 members, (immediate family members being legal heirs of Nizam the seventh) were paid about Rs 350 million. In addition, as per lower court order, 1945 descendants of the Nizam 1st to Nizam sixth were given Rs 20 million.
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