The Telangana state Government initiated an inquiry following Paigah family member representative, against Cyrus Investments group, Dr P.S. Prasad, Goldstone Infratechs and Trinity Infratech. The Government has desired a tax of Rs 2,000 Cr on said property, but this is pending since the dispute is in court.
Paigah family said that their properties were under government’s profession of worth Rs 36,000 as per current rates, after the demise of Mir Osman Ali Khan, Nizam VII.
This was fought in the court. Hameedunnisa Begam, one of the heirs of the Khurshid-Jahi-Paigah estate said around 100 defendants of their family got a court order in their favour, these lands are located in Hafizpet, Hydernagar, Hashmatpet, Malkaram, Nacharam etc., are also being claimed by Cyrus Investments Group, which says it had bought the properties from Nizam VII. She added, the registration documents were made after the death of Nizam, and is false and fabricated.
Begum said, “My age was fabricated. In 1966, my age was nine years, whereas Cyrus Investments showed my age as 22 in the documents. This is totally false”. Begum’s son, Nawab Moiz Jung, alleged that a person by name P.S. Prasad had sold the Paigah lands by illegally taking the GPA from the Cyrus groups.
In April, 2014, Cyrus Investments issued a public notice stating that the power of attorney issued in favor of Prasad was renounced and all those dealing with him did so at their own risk. Cyrus Investments, which owns 9.2 per cent of the Shapoorji Pallonji stake in Tata Sons, claims it bought the land from the heirs of Mir Osman Ali Khan, in 1967.
The Paigah family asked the help of TS government to solve the dispute.