MP man loaned Rs 35,000 to British govt 100 years ago, now family wants it back
Seth Jummalal’s grandson claims the family recently found evidence among old records
Back in 1917, about 109 years ago, a wealthy local businessman from Madhya Pradesh’s Sehore had loaned Rs 35,000 to the then British government.
However, the family of late Seth Jumma Lal Ruthia now claim that the amount — given during WWI — was never repaid and they are exploring legal options to recover what they describe as a ‘historic sovereign debt’ with interest.
Vivek Ruthia, Seth Jummalal’s grandson, claims the family recently found evidence, including certificates among old records. According to him, the documents suggest the loan was taken to streamline administrative management during the British rule and was named as a ‘war loan’.
The original Rs 35,000 is expected to be worth several crores of rupees in today’s time.
The family intends to invoke principles of international law, arguing that sovereign nations are, in theory, obligated to honour previously incurred debts.
Before Independence, the Ruthia family was among the most prominent and affluent in the Sehore and Bhopal princely states. Even today, the family continues to own properties in Sehore, Indore and Bhopal.
