Issuing clarification on the judgment by a United Kingdom court in the Hyderabad fund case, the Ministry of External Affairs on Tuesday said the English court has dismissed Pakistan's application invoking limitation against India's claim to the monies.
The MEA, in an official statement, said it is premature to reach any conclusion regarding ownership of funds, as the matter was sub-judice.
According to reports, India had challenged the 35 million pounds in a bank account in the name of the High Commissioner of Pakistan since 20th September 1948, which was transferred by Nizam of Hyderabad before acceding to India.
"In the pre-trial judgement in a case pertaining to the monies from the erstwhile state of Hyderabad lying in a UK bank since late 1940s, an English court has dismissed Pakistan's application invoking limitation against India's claim to the monies. The judgement states that Pakistan's application for summary disposal of the claim in her favour must fail. The costs for the failure of this application of Pakistan will be awarded to India," statement said.
"The legal action in the matter, currently sub-judice, was initiated by Pakistan in 2013. Pakistan's subsequent application for discontinuance of the case was rejected by the same court in 2015," it added.
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MEA said India was also awarded substantial costs against Pakistan at that stage.
"Pending trial or settlement of the matter, it is premature to reach any conclusion regarding ownership of the monies, especially as the present judgement readily acknowledges that there is much force in many of India's arguments to strike out Pakistan's claim of ownership," MEA said.
Earlier, the Pakistan Foreign Office, in its official release, said that the 75-page judgment of Justice Henderson was a clear vindication of Islamabad's principled stance, and added that an effective legal strategy was being pursued by the new legal team.
According to the release, India had failed to persuade the court that Islamabad's position was untenable and that it could show no legal entitlement to the 35 million GBP sitting in a bank account in the name of the High Commissioner of Pakistan, since September 20, 1948.
Pakistan's legal team was led by by Khawar Qureshi QC, who advanced strong legal arguments and placed cogent evidence before the judge, which defeated the India's argument that Pakistan's claim to the monies was not valid, the official release said.
Islamabad had offered to mediate in front of retired Law Lords Lord Hoffman or Lord Hope in July 2015, but India had refused on the basis that it believed Pakistan's claim was not valid.
The official release said that Islamabad remains committed to resolving all disputes by negotiation and believes that the path to peace and progress lies in dialogue.
