Atlas Ramachandran sentenced to three years in jail by Dubai court

November 12, 2015 14:37

A court in Dubai has sentenced founder chairman of Atlas Group, and movie producer MM 'Atlas' Ramachandran to three years imprisonment in a case of financial fraud.

Ramachandran was arrested and was being held in a detention centre in Bur Dubai since August 23.

His lawyers told the media that they would appeal against the sentence.

Trouble started brewing for the group after around 15 banks operating in Dubai approached the Dubai police complaining that the group had defaulted on loan payments.

The group had raken loans upto Dh550 million (approximately Rs 1000 crores) and a cheque of around Dh3.5 crore was not honoured. The Dubai police had received five complaints against Ramachandran, two complaints were lodged at Rafaa police station, two at Naif and one at Bur Dubai.

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