A woman in Kerala was forced to leave her home after she failed to pay a loan of Rs 8 lakh. In order to construct her home in 2019, she obtained a loan of Rs 4 lakh from Manappuram Finance, a Kerala-based non-banking financial institution. However, in 2021, her husband abandoned her and their two children, which halted the loan repayments. The amount owed increased as interest accumulated over time. As a result, after several warnings were ignored, the NBFC started the foreclosure process.
The family of three was left homeless after the private institution's representatives changed the locks on her home. The event garnered media attention and infuriated the local population. In addition to repaying the woman's loan, LuLu Group Chairman MA Yusuff Ali gave her an extra Rs 10 lakh to assist her establish a fixed deposit after learning about the issue.
Who is MA Yusuff Ali?
On November 15, 1955, MA Yusuff Ali was born in Kerala. In order to work for his paternal uncle's modest distribution company, which he helped grow into the billion-dollar conglomerate it is today, he relocated to Abu Dhabi in 1973. He earned a certificate in Business Management and Administration after completing his education at St. Xavier's High School in Karanchira.
Yusuff Ali is the chairman and managing director of the LuLu Group, which runs the LuLu International Shopping Mall and the global LuLu Hypermarket network. The group has four malls in India, with Kochi being the first, Bengaluru, Thiruvananthapuram, and Lucknow coming next.
Yusuff Ali, dubbed the "Middle East retail king," is worth $7.4 billion, according to Forbes. Forbes Middle East ranked Yusuff Ali No. 1 on its list of the Top 100 Indian Business Owners in the Arab World in 2018.
He was also the Abu Dhabi Chamber of Commerce and Industry's Second Vice-Chairman. He has three daughters with his wife, Shabira Yusuff Ali. Shabeena, their eldest daughter, is wed to Shamsheer Vayalil, a multibillionaire. Adeeb Ahamed, the CEO of Lulu International Exchange and Twenty14 Holdings, is the husband of their second daughter, Shafeena. Shifa, the youngest daughter, is wed to Sharoon Shamsudheen, who owns prosperous IT companies.
You may also like
What is the Fidel Castro-Justin Trudeau conspiracy theory?
World Food Day 2024: Right to Foods for a Better Life and a Better Future
IIT Guwahati innovators develop customizable space-saving furniture for compact homes
Insult to St Francis Xavier: HC grants bail to ex-Goa RSS chief Velingkar
Arne Slot gets Alexis Mac Allister injury update as Liverpool ace responds in Argentina training
Jamie Carragher and Gary Neville's thoughts on next England boss are perfectly clear
Second round of polio vaccination campaign starts in Gaza: UN
"Massive distortion, need for self-reflection": CEC Rajiv Kumar on exit polls
BEML to build India's first bullet train
Bengal school job case: CBI questioning Partha Chatterjee at correctional home
Maharashtra polls: Nana Patole says Maha Vikas Aghadi is 'fully prepared'
Lulu Group's Yusuff Ali clears loan of Kerala woman who was evicted from home; Know all about him
M4 closures: Exactly when and where motorway used by 130,000 drivers will shut this week
Gowrisankar Krishnamoorthy: Engineering the Future of Manufacturing through IoT and MOM Solutions
Largest-ever leasing deal in Dubai property successfully closed
DWP Universal Credit job scheme includes up to £400 driving lesson discounts
The beautiful European country that's the cheapest for Brits to retire at £400 per month
Kamran Ghulam Makes a Mark: Test Debutant Hits Record-Breaking Century After Replacing Babar Azam
Administrations accountable for Bahraich violence: Supriya Shrinate
1st Test: Latham Poised To Lead New Zealand With Confidence In India Tour