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King Koti Palace sold out for Rs. 300 crore

King Koti Palace sold out for Rs. 300 crore

Hyderabad: King Koti Palace was the last residence of former Nizam of Hyderabad, Nawab Meer Osman Ali Khan.

A construction company of Mumbai by name Niharika Infrastructure alleged that two of its former employees cheated it by selling Nizam’s palace for a consideration of Rs. 300 crore to hotel owners of Kashmir.

The construction company lodged a complaint in the crime division of Mumbai police in which it alleged that the palace of former Nizam of Hyderabad was sold out to Iris Hospitality of Kashmir by two of its former employees.

Niharika Infrastructure approaches police

According to the details, Niharika Infrastructure had bought King Koti from Nazri Bagh Palace Trust. When the officials of this company approached the office of the Registrar for the registration of this palace, they found out that this palace has already been sold out.

Further investigations revealed that the officials of Iris Hospitality had transacted this deal in the month of February this year with Suresh Kumar and C. Ravinder, former employees of Niharika Infrastructure Company of Mumbai.

After registering the case against the two accused persons, police is in search of them.

It may be mentioned that Niharika Infrastructure Company has not yet contacted Iris Hospitality.

Legal opinion sought

It is understood that after obtaining legal opinion, action would be taken.

An official of Crime Prevention Department of Mumbai Police revealed on condition of anonymity that Suresh Kumar and Ravinder struck this deal by presenting fake documents in Registration Dept.

Police suspects that a local person from Hyderabad must have helped Suresh Kumar and Ravinder. However, his name has not been included in the FIR.

It may be stated that King Koti Palace was the last official residence of the former Nizam of Hyderabad wherein he died in 1967.

It may be noted that the letters “K K” are inscribed everywhere in the palace. In fact, these letters represent the name of Kamal Khan who had built this palace. The former Nizam of Hyderabad had bought this palace from him.

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