AU Powerful Sydney clans feud over $1b payment
Property Here - Friday, April 26, 2013
A PROMINENT Malabar family is at loggerheads with a rival clan after a search for the direct descendant of a 19th century Indian shipping magnate owed $1 billion in compensation from Saudi Arabia.
The compensation to the direct heir of Mayankutty Keyi traces back to the destruction of the family's ornate home in Mecca, which was commissioned in 1848 by the shipping family to accommodate friends and family making the haj or pilgrimage to Mecca.The Times
of India reported that the home was demolished by the Saudi government in 1971 as part of the extension of the Haram Sherief near Ka'aba. The government had fixed 1.4 million Saudi riyals ($362,000) as compensation but the amount was not released since the Saudi government was not convinced about the claimants at the time.
The renewed search has reignited the feud between the Malabar Coast's erstwhile rulers, the Arakkals, and the Keyis, known for establishing a middle eastern shipping empire, with Saudi officials indicating they will pay the compensation to the rightful heir.
An official has been appointed by the Indian government to find the direct descendant.
According to The Times of India, the Keyi family, citing that Mayankutty Keyi had no relation with the Arakkal family when he had purchased the property, claimed that they were the real inheritors.
But the Arakkal family argue Mayankutty Keyi, subsequent to his marriage with Arakkal Beevi, accepted the title "Ilaya'' and hence they were the legal heirs.
Read more: http://www.news.com.au/realestate/news/powerful-clans-feud-over-1b-payment/story-fnd91nhy-1226629889707#ixzz2RXMBjvxR