Banker, NRI businessman, actor and filmmaker—MM Ramachandran, popularly known as Atlas Ramachandran after his eponymous jewellery chain, was a man who wore several hats.
Ramachandran, who passed away at Dubai's Aster Hospital on October 2 due to a heart attack, was reportedly planning to revive his defunct Atlas Jewellery chain. He was 80.
From bank PO to superintendent of 100 branches
Ramachandran was born in Kerala's Thrissur on July 31, 1942, according to the archived Atlas Jewellery website.
He completed his bachelor’s degree in commerce from Kerala University and moved to Delhi to start a career in banking.
He joined Canara Bank and also completed his masters in economics from the Delhi School of Economics. He left Canara Bank after he was selected as a probationary officer by the State Bank of India.
He later worked with the State Bank of Travancore and by the time he left the state-run lender, he was the superintendent of more than 100 branches.
Journey to Gulf
In 1974, he was hired by Commercial Bank of Kuwait as an international divisions manager, responsible for bank operations in London and New York.
After noticing a huge demand for gold in the country, he opened the first Atlas showroom in Souk Al Watya in 1981. Ramachandran invested his own money and had only two kilograms of gold as assets initially.
But within six months, the business flourished and the store became profitable. He opened five more outlets over the next few years.
The tagline janakodikalude vishwsthasthapanam (trusted enterprise of millions of customers) gained him huge popularity in Kerala as well as Dubai.
In the movies
After tasting success in the gold business, Ramachandran took a shine to cinema and turned to film production and distribution.
He earned fame as Vaisali Ramachandran after his debut film production Vaisali. He produced and distributed films under the banner "Chandrakanth Films".
Not content remaining behind the scenes, he decide to face the camera and acted in 13 movies, including Arabikatha, Malabar Wedding, and Harihar Nagar-2. He directed a film as well.
He was among the few businessmen from Kerala to created an international business empire that spanned healthcare, real estate and jewellery.
Chief minister Pinarayi Vijayan said the businessman was active in public forums and cultural gatherings in Dubai and had close contacts with the non-resident Malayalis. He also helped the poor, he said in the statement.
Gulf War: 1990
Kuwait was looted during the 1990s Gulf War and Ramachandran incurred devastating losses. He moved to the United Arab Emirates to start over.
Jail for financial fraud
In 2015, Ramachandran landed in prison after some leading banks moved a Dubai court complaining of bounced cheques.
He was released in 2018 after serving a jail term of 35 months in Dubai. The release was ordered after he reached at an agreement with the financial institutions.
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