India will sell properties worth millions of dollars of people who moved to Pakistan following partition
NEW DELHI - India’s government has decided to sell millions of dollars worth properties of people who moved to Pakistan after partition.
Indian will sell stocks worth millions of dollars seized from people who moved to Pakistan following partition in 1947 and the wars since, as a way to make up for a shortfall in revenues.
The stocks worth at least 30 billion rupees ($412.26 million) are part of what India calls “enemy properties” that once belonged to people who went to Pakistan and China, with which India also fought a war.
Once these Indian nationals became citizens of these two countries, they were treated as “enemies” and their assets in India including land and houses as well as shares were seized and held by the Custodian of Enemy Property of India.