He was admitted to the hospital on Saturday night due to chest pain. Atlas Ramachandran, a native of Thrissur’s Mullashery Madhukkara, has produced films like Vaishali, Dudhuhara, Sukritam and acted in a few films. He acted in films like Arabikatha, Malabar Wedding, 2 Harihar Nagar.
After seeing success in the field of business, he quickly reached the forefront of prominent Malayalis in the Gulf. He also invested in healthcare, real estate and film production. The financial problems during this time caused a debt of crores of rupees.
Ramachandran was arrested in August 2015 after failing to repay loans taken from various banks. 23 banks including Bank of Baroda came forward with a complaint. The Dubai Court sentenced him to three years imprisonment. He was released from prison in 2018 with the intervention of the central government and expatriate organizations. He was unable to leave the UAE as the case was not over.
Ramachandran’s death comes amid efforts to revive the Atlas Group in the business arena. Ramachandran, an employee of Canara Bank, arrived in Kuwait in March 1974. He opened his first jewelery store in December 1981 while working at the Commercial Bank of Kuwait. Then Atlas Group started 48 branches in UAE, Kuwait and Saudi Arabia.
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