MP family gets response from UK debt office on Rs 35,000 loan given to British Empire during WWI in 1917; how much is it worth today, 109 years later?

A 109-year-old war loan certificate has sparked a fresh chapter in a Madhya Pradesh family's attempt to establish whether a debt dating back to British India was ever repaid.

Vivek Ruthia, a 63-year-old resident of Sehore, says his family has received what he believes is the first official response from the UK's Debt Management Office (DMO) after raising the matter with the British debt-management authority. According to Ruthia, his lawyer received an email seeking copies of the original certificate and related correspondence.

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UK DMO seeks 1917 war loan documents

Ruthia told TOI that the response has given his family fresh hope of establishing what happened to the money.

His legal team is now preparing copies of the 1917 war loan certificate, archival material and correspondence before sending the requested documents, according to the report.

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“I am extremely happy. I never imagined there would be a response at this stage,” Ruthia said, adding that the matter had now become about more than money.

The family hopes British authorities will be able to check historical records and establish whether the loan was ever repaid or otherwise settled.

What is the 1917 Indian war loan?

At the centre of the dispute is a certificate dated June 4, 1917, which has reportedly remained with the Ruthia family for more than a century.

According to the family, the document records that Seth Jumma Lal Ruthia, associated with the firm Seth Rama Kishan Jaskaran Ruthia in Bhopal State, subscribed Rs 35,000 to the Indian War Loan during World War I.

The certificate reportedly bears the signature of W S Davis, the then Political Agent in Bhopal. Earlier reports said the document describes the subscription as an expression of loyalty to the Government and Empire.

MP family claims Rs 35,000 was never repaid

The Ruthia family claims that the loan was never repaid.

Seth Jumma Lal Ruthia died in 1937, around two decades after the alleged subscription. The family says there is no record in its possession showing that the amount was returned or settled before or after India's Independence in 1947.

It is important to note, however, that the claim of non-repayment remains the family's assertion. Whether the debt remains legally outstanding is a separate question that would require verification of historical and financial records.

How much could the 1917 loan be worth today?

The original amount of Rs 35,000 was substantial at the time. Ruthia has previously argued that its present-day value could run into several crores if calculated using compound interest or compared with the rise in gold prices.

The family has also estimated that a gold-linked calculation could put the equivalent value at more than Rs 10 crore.

These figures, however, are illustrative calculations by the family and do not represent an established amount owed by the UK government. The actual value of any legally enforceable claim, if one exists, would depend on the terms of the original instrument, applicable law, repayment history and other legal considerations.

Why the 1917 war loan claim is legally complicated

Ruthia has not yet launched formal legal proceedings and has been consulting lawyers about whether a claim can be brought against the present-day UK government.

Legal experts have previously pointed to several potential hurdles, including limitation periods, sovereign immunity and jurisdiction. Another major question would be whether any liability arising from the colonial administration can legally be attributed to the modern British state.

The historical existence of a certificate and the question of whether it represents an unpaid debt are therefore two different issues.

Why Vivek Ruthia says it is now 'a matter of ego'

Despite the legal challenges, Ruthia says his motivation is no longer simply financial.

He argues that if the British administration accepted the money, there should be a record showing what happened to the liability. His family now wants an answer, whether the loan was repaid or whether it remained outstanding.

The family had reportedly kept the old certificate among its papers for decades before the issue was brought back into the spotlight in 2026.

British government previously redeemed world war loan bonds

The wider history of British wartime borrowing adds another dimension to the family's claim. The British government redeemed £1.9 billion in War Loan bonds in 2015, representing the final repayment of a large category of UK government borrowing associated with World War I and later obligations.

However, the existence of those historic UK War Loan repayments does not by itself establish that the Ruthia family's specific 1917 Indian War Loan certificate remains payable today. That would require the individual instrument and associated records to be examined.


Inputs from TOI