Wanted: Indian Heir To Claim $1 Billion In Compensation

April 25, 2013

[b] Wanted: Indian heir to claim $1 billion in compensation[/b]

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Reuters: Amr Abdallah. $1 billion compensation for heir: Muslim pilgrims circle the Kaaba and pray at the Grand Mosque during the Haj pilgrimage in Mecca, Saudi Arabia, the site of the disputed property. [img]http://newsbcpcol.stb.s-msn.com/amnews/i/3d/eb89cf308282989e5656a59e877ed_h17_w0_m6_lfalse.jpg[/img] 1 hr ago By Riya Bhattacharjee of MSN News

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An age-old dispute between Muslim royals of India and a wealthy shipping family resurfaced when the Saudi government announced a search for the true heir of $1 billion.

How much is a true heir worth?
A whopping $1 billion, according to an estimate from the Saudi government, which is searching for the direct descendent of a 19th-century Indian nobleman because they want to offer the money as compensation.
The nobleman, Mayin Kutty Keyi, built a bungalow called Keyi Rubath in Mecca, Saudi Arabia, in 1848 to provide shelter for friends and family traveling there for the Haj pilgrimage, according to the [url="http://articles.timesofindia.indiatimes.com/2013-04-23/kozhikode/38762455_1_keyi-rubath-keyi-family-indian-consulate"]Times of India[/url].
But the Saudi government demolished it in 1971, valuing the building — which was located close to the Holy Ka'baa shrine — around $100 million at the time of demolition.
The value of the building has increased to $1 billion today.
But as with all heirlooms, this one isn't without controversy.
Mayin Kutty Keyi — who was married to Arakkal Beevi of the Arakkal family, rulers of India's Malabar coast — descended from the Keyis, who once controlled the spice trade in India.
According to [url="http://www.telegraph.co.uk/news/worldnews/asia/india/10013065/Wanted-true-heir-of-19th-Century-Malabar-nobleman.-Reward-1-billion..html"]the Telegraph[/url], the Arakkal and Keyi families were embroiled in feuds since the days of British rule in India, attempting to intermarry and alleviate tensions caused by the Sultan of Arakkal's jealousy toward the Keyis' good fortune and wealth.
That tension was revisited when the Saudi government announced its search for the direct heir of Mayin Kutty Keyi.
While the Keyi family claims the money belongs to them because Mayin Kutty Keyi was unmarried when he purchased the property, the Arakkals contend they are the real inheritors.
The Indian consulate in Saudi Arabia has asked the Arakkal family to appoint a legal adviser who will submit a list of descendants claiming the money.
So far, there are 45 takers.