Colonial-era Indian royal family wins right to $45 million stashed in London since 1940s.
A decades-old legal dispute between the state of Pakistan and colonial-era Indian royalty has finally been settled, with the U.K. High Court recognizing the rights of the Indian royals to $45 million that has remained untouched in a London bank account since 1948.
The royal Nizams of Hyderabad were among the richest dynasties in colonial-era India, known for their grand Chowmahalla Palace residence and lavish displays of wealth. The seventh and final Nizam, who in the 1940s was one of the wealthiest men in the world, gave Queen Elizabeth II a diamond tiara and a diamond necklace made by Cartier as a wedding gift when she married Prince Philip.
The Nizam's grandsons, the eighth Nizam, Mukarram Jah, 84, and his brother Muffakham Jah, 80, who were children when the dispute began, now stand to inherit the money. The Pakistan legal team unsuccessfully argued that the payment was made in return for arms smuggling services as Hyderabad prepared to defend against invasion from the newly independent Indian state in 1948.
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