Upholding India’s claim in the 70 years old £35 million fund case, the UK high court ruled in India’s favour on Wednesday. The fund is currently held by the National Westminster Bank in London. The historic case involves India, Pakistan and descendants of the late 7th Nizam of Hyderabad, who sent £1 million to a London bank in 1948, now estimated to value at least £35 million.
Locked since September 1948, the fund remains frozen in the account of the High Commissioner of Pakistan to the UK Rahimtoola.
Rejecting Pakistan’s claim that the fund was originally a payment for arms shipments or as an outright gift, the court issued a wide-ranging judgment today after analysing documents dating before September 1948.
In its judgment today, the UK High Court has rejected Pakistan’s claim that the Fund had been intended as payment for arms shipments or as an outright gift.
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