I will be back soon, Atlas Ramachandran
Dubai: Atlas Ramachandran, the popular businessman in Jewellery sector, is all set to make a re-entry to the business after three years. He is planning to open a new showroom of Atlas Group along with repaying loans to various banks.
Ramachandran, who was in jail for 3 years, summoned a meeting with representatives of various banks after getting released from the prison. In the meeting, he discussed the issues related to loan payments and his future plans in jewellery business. It is reported that Ramachandran is expected to submit his detailed projects to the banks.
Presently, Atlas Ramachandran is planning to open a new jewellery showroom in Dubai within three months. Investors from India and UAE expressed willingness to invest in Atlas Group. Hence, he is trying to identify the best partner for his new venture.
Meanwhile, Atlas Jewelleries in Saudi Arabia and Kuwait are functioning well. Sources revealed that Atlas Jewellery will continue to operate in Muscat. The showroom in Bengaluru also has good number of customers so far. Atlas group is operating another showroom at Thane in Maharashtra.
Atlas India Limited is a company listed in Mumbai Stock Exchange. The share of the company which had a face value of Rs 10 has risen to Rs 154 in the stock exchange. Ramachandran has invested Rs 5 crore in the share market. As per the present market price, his share will cost Rs 750 crore.
Thus, there are no barriers for Atlas group in establishing a new showroom in UAE with the support of over 5000 share partners.
Atlas Ramachandran will collect more investments for his upcoming project to make his re-entry in Dubai.
Atlas Group is also planning to sell franchises of Atlas group. For this purpose, the firm needs a full-fledged jewellery manufacturing unit. The facilities to establish such a unit is availabe in UAE itself. The unit can also be established by expanding the firm in India.
Atlas group has to raise at least 3 crore Dirham to establish a new showroom in Dubai.
“I wish the love and trust of the people to Atlas jewellery will be with me in my new venture,” said Atlas Ramachandran.
“I am not booked under any criminal cases related to financial deals. But I have to repay loans. I will definitely settle the loans after holding discussions with the banks. I have no plans to leave the country without settling them,” he added.
Atlas Ramachandran was one of the most successful Indian businessman in UAE. Though he started business with 8 kilo of gold in 1991, he opened 40 showrooms by 2014.
“I still have that confidence that supported my journey,” said Atlas Ramachandran with a confident smile.