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19 Nov 2018, Edition - 1224, Monday

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Kerala News

Out of Dubai jail, Atlas Ramachandran keen to revive business empire

Covai Post Network

Kochi: Three years in jail and mounts of debts have not deterred 76-year-old businessman and film personality and M M Ramachandran, or Atlas Ramachandran from pursuing newer avenues to revive his sinking empire.

A small mistake in handling an issue related to a bank led to series of blunders, he told a daily in Dubai. On top of it, some of his trusted pulled the rug under his feet sending him behind the bars along with his daughter Dr Sindhu, a professional doctor, and her husband for three years in Dubai.

Owner of a chain of business establishments under the flagship Atlas Jewellery in India, and Gulf countries, Ramachandran was freed from jail the other day. He exuded confidence in bouncing back to active business and clear all the debts.

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It was breach of trust by some people in key posts that led to the collapse. He praised his wife Indira for single-handedly managing other ventures despite her poor experience. He said he had learnt his lesson and would not fall to such preys in future.

A commerce graduate, Ramachandran started his professional life by joining Canara Bank in 1963. Later, he moved to different banks, including SBI, before landing in Commercial Bank of Kuwait in 1974. He was holding the charge of London and New York operations of the bank.

His life entered a new world when he started Atlas Jewellery in Kuwait in 1981. Thereafter it was success in all fields he tried his luck. Ramachandran produced four Malayalam films, including superhits ‘Vaishali’ and Mohanlal starrer ‘Dhanam’. He acted in nine films and directed ‘Holidays’ which flopped.

Ramachandran used to appear in ads to promote Atlas Jewelry. It was based on this idea, ‘Pranchiyettan the saint’ film had mega star Mammootty promoting his own jewellery.