New Delhi: Many people have immense amount of money. But it is very rare to see the rich people coming to someone’s help on time. Among these is LuLu Group‘s billionaire chairman M.A. Yusuf Ali is different. Recently, he helped a woman from Kerala who had lost her house due to debt. His family had come on the road. Lulu Group not only paid off his loan and got him a house but also gave him Rs 10 lakh so that he could run his household.
showed generosity
According to a report published on Keralakaumudi.com, LuLu Group’s billionaire chairman MA Yusuf Ali came forward to help a family from Paravur Vadakkekara, Kerala. Sandhya, a mother of two children, was not able to repay her loan. His house was out of his hands. In such a situation, LuLu Group took prompt action and repaid the family’s loan of Rs 8.25 lakh to that finance corporation.
what is the incident
According to the report, in the year 2019, Sandhya’s family had taken a loan of Rs 4 lakh from a financial institution to build their house. In the year 2022, her life took a difficult turn when Sandhya’s husband passed away. The income stopped as soon as her husband left. In such a situation, it became difficult to maintain the family, then who would pay the EMI of the loan. As soon as the EMI payment stopped, the Finance Corporation started foreclosure proceedings. One day the company also took possession of his house. Not only this, Sandhya did not even get a chance to take out her luggage.
Company took action on media news
The news of this incident was published in the media. After this, the representatives of LuLu Group not only repaid their loan completely but also handed over Rs 10 lakh to the family. So that the vehicle of their household can run properly. It was the timely intervention of MA Yusuf Ali that provided the most immediate relief. His generous act not only covered the outstanding debt, but provided additional financial support to help the family rebuild their lives.
Who is MA Yusuf Ali?
MA Yusuf Ali, often referred to as the “Retail King of West Asia”, heads Lulu Group International. It operates 271 hypermarkets and malls in Gulf and other areas. The group’s revenue is $8 billion. Along with this, it is considered a retail powerhouse. Yusuf Ali’s success also lies in his humility. He was born in a small village in Kerala. In 1973, he went to Abu Dhabi to help his uncle in his small business. Today, Lulu Group is a globally recognized brand.
Abu Dhabi royal family’s stake
In 2020, a member of Abu Dhabi’s royal family acquired a 20% stake in the group for $1 billion. After this the pace of development of the company became stronger. Apart from retail business, Yusuf Ali also owns a minority stake in Cochin International Airport, the world’s first fully solar-powered airport.