According to Pant, one of the features distinguishing khanda fom patissa is the cylindrical unpadded grip on the latter ( the other being the small pommel bud, the presence of very long steel seatings, the uniform absence of reinforcing border plates [ unlike khanda, where most, but not all, had them] and of D-guard as well as drooping wing-shaped quillons).
Thus, this is a Khanda.
However, I wouldn't call it the " most effective, versatile sword ever developed", nor would I propose an altenative: saber-like blades might have differed in their effriciency because of different engineering approaches ( shamshir vs. shashka vs. kilij etc), but a straight-bladed weapons were reasonably uniform in their usage and efficiency. It was just a matter of weight, length, rigidity and quality of materials. Straightness did not allow for a lot of variability.
The spike, also per Pant, might have served also as a hand-rest, in addition to the two-handed grip.
Also, I am not exactly sure what is meant by " Hindu hilt" of the Tulwar? Tulwar was a Moghul-inspired weapon, very Muslim in origin ( if we ascribe religious meaning to the handles).
Ironically, the Khanda shown here has very tulwar-like pseudo-quillons under its hand guard. Obviously, a mix of both Hindu and Muslim traditions.
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