Lulu Group chairman MA Yusuff Ali has come forward to help a woman in Kerala who was facing eviction from her home due to an unpaid loan of 8 lakh.
The woman, along with her two children aged 12 and 7, was evicted from her home by officials from the non-banking financial company (NBFC) Manappuram Finance.
Abu Dhabi-based businessman MA Yusuff Ali, not only instructed his team in India to clear the outstanding loan but also offered ₹ 10 lakh to help the family get back on their feet.
A woman named Sandhya and her children were left homeless after NBFC evicted them. Sandhya is a resident of North Paravur and works in a local clothes shop. In 2019, Sandhya and her husband took a loan of ₹ 4 lakh from Manappuram Finance for the construction of their house under Kerala’s Life Housing Scheme, according to Malayalam media house Mathrubhumi.
As per the report, Sandhya began construction on a 4.8-cent plot in Madaplathuruth, financed by a personal loan taken in her name. However, due to rising material costs, the project was not completed as planned.
Sandhya stopped repaying the loan after her husband left her and kids in 2021. Over the next three years, the loan amount exceeds 8 lakh including the interest rate. Manappuram Finance issued several warnings to the family regarding the unpaid loan but she was unable to pay it.
The eviction process started on Monday, and officials kicked Sandhya and her children out of their home and changed its lock. She couldn't even get her things. When the news came out, a local politician asked Manappuram Finance to let Sandhya stay in the house.
After hearing about the situation of Sandhya, Yusuf Ali came forward to help her. The Abu Dhabi-based businessman and the native of Kerala instructed his team to repay the entire loan and also handed an extra amount of 10 lakh rupees to the family.
The remaining funds will be placed in a fixed deposit for their future. According to the report, the Lulu Group's media coordinator handed the house keys to Sandhya on Monday evening.