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Indian billionaire MA Yusuff Ali repaid a woman’s loan after she and her children were evicted from their home.
MA Yusuff Ali repays woman’s Rs 8 lakh loan after she was left homeless.
Image credit: Wikimedia Commons
Kochi: Indian billionaire MA Yusuff Ali came to the rescue of a woman who was evicted from her home after the non-payment of a loan. The billionaire also offered her additional financial aid.
The woman named Sandhya and her husband took out a loan of Rs 4 lakh from Manappuram Finance, a Non-Banking Financial Company based in Kerala, in 2019. The amount was meant to be spent on the construction of their house. However, in 2021, Sandhya’s husband left her and the kids, leading to the non-payment of the loan. Soon the loan along with the interest amounted to Rs 8 lakh.
Indian billionaire MA Yusuff Ali repays woman’s Rs 8 lakh loan after she and her kids were evicted from her home
Soon after the payments stopped about three years ago, the finance company started foreclosure proceedings. They issued warning notices. Things became worse recently as Sandhya and her children were evicted from their home by the finance company. The officials changed the locks of the house while Sandhya and the kids were away, leaving the family stranded and homeless. They were not even allowed to take their belongings from the house.
As Sandhya’s story gained media attention, Lulu Group chairman MA Yusuff Ali stepped in to offer support. He asked his team to repay the entire loan amount. Lulu Group’s media coordinator Swaraj presented the keys to Sandhya. Additionally, the billionaire offered the family Rs 10 lakh to start a fixed deposit.
On receiving the aid, Sandhya thanked the billionaire and said their situation would have been miserable without his immediate intervention.
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