Business leaders pay Atlas Ramachandran tribute, "He was rebuilding his empire"
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Many businessmen and prominent individuals paid tribute to the late Indian entrepreneur M.M. Ramachandran – popularly known as Atlas Ramachandran. He passed away in Dubai on Sunday.
Shamsudheen, Managing Director of Nellara Group of Companies, said Ramachandran was in the process of rebuilding his empire. "Last month, he had met with some Saudi-based investors who I had put him in touch with, and they were in talks to re-launch the Atlas brand in the UAE. His death truly comes as a shock to many of us," reported Khaleej Times.
The Atlas group was caught up in legal trouble in 2015 and Ramachandran was arrested. He was released in 2018.
"He was truly a gem of a person. Despite all the hardships he faced, he never once pointed fingers at anyone or said who cheated him of his hard-earned business. He took the blame upon himself and tried to learn from his mistakes," added Shamsudheen.
Shamlal Ahmed MP, Managing Director, International Operations, Malabar Gold & Diamonds, said he was a businessman everyone looked up to. "His contributions to the gold and jewellery industry in the UAE are invaluable. At the peak of his career, he was arguably one of the most recognisable entrepreneurs in the Indian community." He added that Ramachandran was instrumental in opening up people's minds to buying gold jewellery in the UAE in the 90s. "His hard work created a base that all other jewellery in the country, including Malabar Gold, was able to build on. He was truly a great marketer."
Atlas group was the first to start the practice of the daily announcement of gold rates, separately for 22 and 24 karats, through a telephone hotline. This was an instant hit and appreciated by the government of Dubai. He held the post of secretary of the Gold and Jewellery Group for six years since its inception.
At the peak of its success, the Atlas group of companies owned 48 jewellery outlets in the GCC and India. It also operated two hospitals in Oman and was active in the real estate business in India.
