Meet man who saved woman's house by paying entire loan, is connected to Saudi royal family, has net worth Rs 61542 crore

An Indian billionaire has come to the aid of a Kerala woman who was evicted from her home due to an unpaid loan. Sandhya and her two young children were left with no place to go after officials from a non-banking financial company (NBFC) took possession of their house. The situation took a positive turn when Abu Dhabi-based businessman MA Yusuff Ali, chairman of the Lulu Group, stepped in to help. Mr. Ali instructed his team in India to settle the outstanding loan and also offered the family ₹10 lakh to help them recover from the setback.

The story gained public attention when local media reported Sandhya’s eviction. She lives in North Paravur, Kerala, and had taken a Rs 4 lakh loan from Manappuram Finance in 2019 to finish constructing her house under the state's Life Housing Scheme. The home was built on a small 4.8-cent plot in Madaplathuruth. Due to the rising cost of construction materials, Sandhya and her husband had borrowed the amount in her name to complete the project.

However, in 2021, Sandhya’s husband left her and their two children, who are 12 and 7 years old, leaving the loan repayments unattended. As time went on, the outstanding loan amount, including interest, increased to nearly Rs lakh. Manappuram Finance initiated foreclosure proceedings after multiple warnings. On Monday, the company’s officials arrived at Sandhya's home, changed the locks, and evicted the family. Sandhya and her children were not even allowed to collect their belongings, including essential items such as medicine.

The eviction drew public sympathy and sparked protests in the local area. Kerala's opposition leader, VD Satheesan, intervened and urged the financial institution to reconsider the eviction. The incident caught the attention of Mr. Yusuff Ali, a UAE-based businessman who is originally from Kerala. He immediately instructed his team to clear the loan, and Lulu Group's media coordinator returned the house keys to Sandhya on Monday evening.

In addition to repaying the loan, Mr. Ali provided Rs 10 lakh to the family, which will be kept as a fixed deposit to secure their future. This act of kindness brought much-needed relief to Sandhya, who supports her family by working at a local cloth shop in Paravur.

About MA Yusuff Ali

LuLu Group is rapidly expanding worldwide, with operations in several countries, including India. The company, best known for its hypermarkets and large grocery stores, was founded in 2000 by Indian entrepreneur M.A. Yusuff Ali. As reported by Forbes, Yusuff Ali has built a significant fortune, with a net worth estimated at $7.8 billion (around Rs 65,150 crore). The LuLu empire's growth has been so remarkable that even the Abu Dhabi royal family acquired a 20% stake in the company for $1 billion.

Yusuff Ali was born on November 15, 1955, in the village of Nattika in Kerala's Thrissur district. He received a strong educational foundation, completing his early studies at St. Xavier's High School in Karanchira before earning a diploma in Business Management and Administration (MBA). From a young age, Yusuff Ali was determined to forge his own path, with aspirations to become an employer rather than work for someone else.

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