UK says no record of Bhopal businessman's 109-year-old ₹35,000 British war bond investment: What MP family says

The UK government has said it has found no evidence that a 109-year-old Indian war loan, allegedly signed by a Bhopal businessman in 1917, was or remains an obligation of the British government, The Times of India reported.

The backlash left the Madhya Pradesh family scrambling to find out if the money was ever repaid.

The UK’s Debt Management Office (DMO) communicated its position in an email dated October 16 to Shreyansh Raniwala, solicitor of Vivek Ruthiya, 63, Sehore, the report said.

“We have investigated and found no evidence that the loan you refer to was or is a UK government obligation,” the DMO said in an emailed response, as quoted by the newspaper.

The DMO recognized no outstanding liability and left the family to seek further answers regarding the historic transaction.

What is the Indian War Loan of 1917?

At the center of the dispute is a certificate dated June 4, 1917, which the Ruthiya family says has survived for more than a century.

The document records the subscription ₹35,000 from Seth Jumma Lal Ruthiya, a businessman associated with Seth Rama Kishan Jaskaran Ruthiya in the princely state of Bhopal.

It even bears the signature of WS Davis, who was then Political Agent in Bhopal.

The Indian War Loan was made during the First World War when the British administration raised money to finance military expenditure.

Such loans allowed governments to borrow from investors, including wealthy individuals and businessmen, in exchange for interest and repayment under appropriate terms.

According to the family’s claim, the investment earned interest at an annual rate of 5.5%. The family insists they have not received a principal payment or a satisfactory loan settlement account.

Read also | What is the Indian War Loan of 1917 in which the MP family invested ₹35,000?

The family disputes the UK’s response

The DMO’s email drew questions from social activist Vinay Ruthiya, who called for more clarity on historical records and alleged loan repayments.

He said the family verified the available documents and submitted the material requested through their legal representative. He argued that the British authorities should clarify whether the subscription appears in their historical financial records and, if so, how the liability was accounted for.

“If the loan has been repaid, there should be a record of when and how it was settled. We have submitted the documents they asked for, including historical confirmation,” he said, according to TOI.

How did the family discover the century-old documents?

Vivek Ruthiya said he found the documents among the documents kept in his grandfather’s will.

He said the records contained correspondence with the then British government that supported the family’s account of the transaction.

The family relied on the certificate and related documents to assert their claim more than a century after the investment was made.

Seth Jumma Lal Ruthiya died in 1937, two decades after the alleged subscription, according to TOI.

British rule in India ended in 1947, so the family is now looking for historical documentation to find out what happened to the investment.