He had started his gold jewellery business in 1981 when he bought 2 kg of gold with whatever money he had in his hand. From then on, there was no looking back. Atlas Jewellery group's turnover during the year ending 2014 was $1 billion (Rs.7,912.82 crores).
He caught the public eye when he started appearing himself in the advertisements of his jewellery store chain delivering the tagline, "Janakodikalude viswastha sthaapanam" (the trusted establishment of crores of people).
His downfall in business, however, started in August 2015 and the banker-turned-businessman was arrested for the delay in the repayment of borrowings from banks. Two months later, he was sentenced to three years in prison by a Dubai court. The Atlas group had taken loans up to 550 million dirhams (approx Rs.1,000 crores) and thesentence came in a case of two dishonoured cheques issued by the company. What he'd to say about it was as follows :-
He had recalled in an interview as to how his former managers had duped him which led to his arrest and prison term. A whopping 3,000 plus kilograms of gold worth 740 million dirhams (Rs.1,583.77 crores) went missing from 44 jewellery shops in the six Gulf Cooperation Council countries by the time he was released from prison, pushing him to penury.
Everyday he used to get dressed in his flashy kurta by 0830 hrs, as if going to his office and attend online meetings with his lawyers. He was eagerly awaiting to start afresh from the scratch.
Despite the UAE governmentlifting his travel ban, he wanted to be free from all legal hassles before returning home in Thrissur which, however, was not fulfilled.
Atlas Ramachandran (MM Ramachandran), 80, passed into the mist of time following a heart attack, in Dubai late on Sunday night. Since he was confirmed with Covid infection, there was no public viewing. He is survived by his wife, daughter and son. His death happened at a time when he was gearing up to restart the defunct Atlas Jewellery chain.
Adieu Mr Ramachandran. Salute to a gutsy businessman; my tears and prayers. May your near and dear ones have the strength to pass through these stressful times.
Courtesy. Adapted from an article in the NIE
Tailpiece.
Got up at a quarter past 6, the chores and was ready by a quarter past 9. Reported to the pulmonologist, Dr (Mrs) Sodhi for our medical review.
The maid had come by and left by 5, in the evening.
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