Atlas Ramachandran, well-known NRI businessman, passes away in Dubai

M M Ramachandran, popularly known as Atlas Ramachandran, the well-known Kerala-born NRI industrialist and film producer, died after a cardiac arrest in Dubai on Sunday (October 2) night.

The managing director of Atlas Jewellery, Ramachandran (80), was ailing and had been hospitalised in Dubai a few days ago, said media reports quoting family sources. He is survived by his wife and two children.

His death came at a time when the businessman was struggling to rebuild his multi-crore empire after his release from jail a few years back.

Chief minister Pinarayi Vijayan condoled the death of the businessman. The CM said in a statement that Ramachandran, who had started as a bank employee and later became a businessman, kept a close connection with Pravasi Malayalees. “He was an active presence in the cultural and public sectors in Dubai. He was never reluctant to support the poor. His demise comes at a time when he was planning to return to his birthplace,” added the Kerala CM about the entrepreneur.

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The Atlas Group

At one time, the Atlas Group, which was started three decades ago, had 42 showrooms in the Gulf Cooperation Council area and three in India. In 2014, a year before his business empire fell, the Atlas Group had a turnover of ₹8,000 crore, said reports. Ramachandran became a household name among the Malayalee community when he used to appear in his company’s advertisements to deliver the line: ‘Atlas Group, the trusted name of crores of people.’

Ramachandran however, suffered financial setbacks and in 2015, he was arrested by the Dubai police for allegedly duping banks and issuing bounced cheques as security. He was subsequently sentenced to jail for three years. Many of his well-wishers came together and collected money to pay the fine and he was released after two-and-half-years.

Later, the group diversified and ventured into real estate, health care and film distribution.

Atlas Ramchandran had produced many Malayalam movies and also acted in a dozen films in small roles. He produced films such as ‘Vaishali’ and ‘Sukrutham’, which were huge box office successes. He also acted in films such as ‘Arabikkada’, ‘Malabar Wedding’, and ‘2 Harihar Nagar’.

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Bank employee to entrepeneur

Ramachandran began his career as a Canara Bank employee in Thrissur in 1963. He moved to State Bank of India in 1966 to become a probationary officer and later joined its subsidiary. In 1974, he joined the Commercial Bank of Kuwait and remained there until 1987.

In 1981, Ramachandran ventured into the gold business and opened the first Atlas showroom in Kuwait. However, the Kuwait war affected his business but he recovered after he shifted operations to the United Arab Emirates. In the UAE, he had served as the chairman of Dubai Shopping Festival’s Gold Promotion Council and secretary of Dubai Gold and Jewellery Group.

In one of his interviews after he was released from jail he pointed out that he had never fled the country (UAE)which had given him everything. And, that he had helped many people to come up but when he was in trouble most conveniently forgot him but, that is the way of the world, he had said.