From mint · Bhanu Pratap · · 1m 20s
UK says no record of 109-year-old ₹35,000 war bond investment
UK Debt Office finds no evidence of 1917 Indian War Loan subscription by Bhopal merchant.
In brief
UK Debt Office finds no evidence of 1917 Indian War Loan subscription by Bhopal merchant. UK's Debt Management Office says it has no record of a 1917 ₹35,000 British war bond investment by a Bhopal merchant, leaving the family seeking repayment clarity after 109 years. Originally reported by mint.
UK Debt Office Response
UK's Debt Management Office says it found no evidence of a 1917 ₹35,000 Indian War Loan subscription by a Bhopal merchant.
“We have investigated and can find no evidence that the loan you refer to was or is an obligation of the UK govt”
Family's Claim
The Ruthiya family claims a 1917 certificate shows Seth Jumma Lal Ruthiya subscribed ₹35,000 to the British war bond.
“The document records a subscription of ₹ 35,000 by Seth Jumma Lal Ruthiya, a businessman associated with the firm Seth Rama Kishan Jaskaran Ruthiya in the princely state of Bhopal”
Historical Context
The 1917 Indian War Loan was raised during World War I for military funding with 5.5% annual interest.
“The Indian War Loan was floated during World War I, when the British administration raised money to finance military expenditure”
Family's Repayment Claim
The family says they have not received repayment of the principal or interest on the 1917 investment.
“The family maintains that it has not received repayment of the principal or a satisfactory account of the loan's settlement”
Document Discovery
Vivek Ruthiya found the century-old documents among his grandfather's will papers in 2026.
“Vivek Ruthiya has said he found the documents among papers preserved in his grandfather's will”
Family's Request
The family wants UK to clarify if the loan appears in historical records and how it was settled.
“We submitted the documents they asked for, including the historical certificate”
Historical Timeline
Seth Jumma Lal Ruthiya died in 1937, 20 years after the alleged subscription, with British rule ending in 1947.
“Seth Jumma Lal Ruthiya died in 1937, two decades after the alleged subscription, as per TOI”
The one thing
UK's Debt Management Office says it has no record of a 1917 ₹35,000 British war bond investment by a Bhopal merchant, leaving the family seeking repayment clarity after 109 years.
