Indian billionaire repays Kerala woman’s ₹8 lakh loan after she’s evicted from her house | Trending

₹8 lakh loan after she’s evicted from her house&section=Trending&subSection=&impression=true” width=”100%” height=”0px” style=”display:block” frameborder=”0″ scrolling=”no”> Oct 15, 2024 08:01 AM Lulu Group chairman MA Yusuff Ali has stepped in to help a Kerala woman who was evicted from her house due to an unpaid loan Lulu Group chairman MA Yusuff Ali has stepped in to help a Kerala woman who was evicted from her house due to an unpaid loan. The UAE-based, Kerala-born billionaire has not only instructed his team in India to repay the woman’s loan in full but also offered her ₹10 lakh. The promise of assance from Lulu Group comes after Sandhya’s story made local news and moved thousands of people who could identify with her plight. MA Yusuff Ali, the chairman of Lulu Group, stepped in to repay a family’s loan.(Instagram/yusuffali.ma) Here’s what happenedAccording to Malayalam Media, Sandhya and her husband took a loan from a private institution in 2019 for the construction of their home in North Paravur, Kerala. They took a loan of ₹4 lakh from Manappuram Finance, a Kerala-based Non Banking Financial Comapany (NBFC). Around 2021, however, Sandhya’s husband left her and their two children. The repayment of the loan stopped thereafter, and the loan amount spiralled to nearly ₹8 lakh with interest. Manappuram Finance started foreclosure proceedings after the repayments stopped. The NBFC said that Sandhya had been given four warnings after loan repayments stopped three years ago. Recently, when Sandhya returned from the cloth shop where she worked, she found that NBFC officials had entered her house and replaced her locks, officially evicting her and her two children. They were not even allowed to take their belongings from inside the house. The aftermathThe sight of Sandhya and her children, stranded on the road, sparked outrage among locals. Her story was picked up local media and reached MA Yusuff Ali, the chairman of Lulu Group, who immediately stepped in to help the family. According to One India, MA Yusuff Ali instructed his team to repay the loan. It was due to his intervention that the keys to Sandhya’s house were returned to her. Lulu Group’s media coordinator Swaraj handed over the keys to Sandhya and her family. They were also given ₹10 lakh to start a fixed deposit. Sandhya expressed her gratitude to the billionaire, saying that she and her children would have been in dire straits had it not been for Yusuff Ali. (Also read: ‘Humble’ Indian billionaire stops for selfie with fan in Abu Dhabi. Viral video) Get Latest Updates on… See more News / Trending / Indian billionaire repays Kerala woman’s ₹8 lakh loan after she’s evicted from her house