MM Ramachandran, the Chairman of Atlas Jewellery, which has a network of 48 stores in the Gulf countries, has been sentenced to three years’ jail by a Dubai court for issuing two bounced cheques for 34 million dirhams.

Ramachandran, 74, popularly known as Atlas Ramachandran, who has also produced Malayalam films and acted in some films, was arrested by the Dubai police on August 23 following the bouncing of several cheques he had issued to his creditors.

Gulf media reports show that he owed around 600 million dirhams (around ₹1,000 crore) to 20 banks, including Bank of Baroda, and other creditors. He had borrowed 70 million dirhams from Bank of Baroda in Dubai.

Ramachandran and his daughter had been arrested following complaints by two creditors. Judge Ahmed Abdel Mohsen Shiha of the Dubai court found him guilty of issuing two bounced cheques and awarded him three years’ imprisonment on Wednesday.

Ramachandran, who hails from Thrissur in Kerala, set up his first Atlas Jewellery store in Kuwait in 1980, and when the jewellery chain expanded he moved his base to Dubai in 1990. In Kerala, Atlas Jewellery is a well-known brand, mainly because of the extensive television commercials carried by most Malayalam channels for years.

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