MM Ramachandran was a well-known businessman and film producer who died in Dubai on Sunday. He was 80 and survived by his wife and two children. Pinarayi Vijayan, Chief Minister, condoled the passing of a businessman.
In his condolence message, he stated that "His contributions in business and cultural fields were enormous," Ramachandran used to run a chain of jewelry shops in India and overseas, as well as other business ventures. Ramachandran, however, experienced financial setbacks. In 2015, Ramachandran was arrested by Dubai police and sentenced to three years in jail.
After collecting money for a fine, many good samaritans gathered together to release him after two-and-half years. Atlas Jewellery was founded in 1983 and has over 40 branches across the Gulf countries as well as many outlets in Kerala.
Later, he expanded his business into film distribution, real estate, and health care. He was the producer of many Malayalam films and also played side parts in more than a dozen films. His films "Vaishali", and "Sukrutham", were box office hits.
His career began as a bank clerk in Thrissur. In the late seventies, he quit his job and moved to the Middle East. He was a bank clerk and started his own jewelry shop in the 1980s. It grew to more than 75 outlets in India and overseas over the next three decades.
His liabilities grew so much that banks turned against him. His business empire once amounted to Rs25,000 crore.