Atlas Ramachandran gets three years jail

Atlas Group Chairman MM Ramachandran has been sentenced to three years in jail by the Dubai Misdemeanor Court.

The 74-year-old Ramachandran has been in police custody since August this year, and this sentence relates to a case regarding two bounced cheques worth Dh34 million. 

According to court records, one of the cheques was for Dh30m while the other was for Dh4m and was issued to a local bank. 

The defendant's lawyer refused to make a comment after the judgement was issued by the court this morning. 

Ramachandran's wife attended the hearing and was present inside the court when the judgement was pronounced. She broke down after the verdict was issued and was seen weeping outside the court premises. 

Late last month, Atlas Group had announced that it has entered into a financial deal with UAE-based investment firm Maas Group to raise funds.

The equity from Maas will go into the Atlas Group-owned businesses in the UAE and its healthcare facility in Oman.

As per the group website, there are about 18 outlets across the GCC excluding the UAE.

In the UAE, Atlas has about 20 outlets including 12 across Dubai. However, not all outlets in the UAE are fully operational.

Dr. M.M. Ramachandran (popularly known as Atlas Ramachandran) is an Indian businessman, film producer, and actor.

He has previously been ranked among the ‘100 Most Powerful Indians in the GCC’.

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