Atlas Jewellery case: Who is MM Ramachandran?

Dubai - Mathukkara Moothedath Ramachandran (MMR) hails from Thrissur district in Kerala and was once a banker before delving into the jewellery business. He has also dabbled in movies.

MM Ramachandran, the controversial Indian businessman jailed for fraud in Dubai, is a banker-turned-jewellery trader who has played various roles in life as in the movies he made.
Here is a brief profile on the businessman:
- Mathukkara Moothedath Ramachandran (MMR) hails from Thrissur district in Kerala. His father was a famous poet. MMR did his Bachelor's Degree in Commerce from Kerala University. 
- Canara Bank (1963 - 1966): In Delhi, Ramachandran started his career in the banking industry. He joined Canara Bank and while serving the bank he completed the coveted banking exam called 'CAIIB' (Certified Associate of the Indian Institute of Bankers) with rank and distinction. His last position with Canara Bank was 'Assistant Accountant' in the foreign exchange section.
- State Bank of India/State Bank of Travancore (1966 - 1974): At SBI he was given in-depth training at their training colleges at Patna and Hyderabad and he was posted with State Bank of Travancore. In SBT he held a wide range of positions, including field officer, accountant, manager among others. By the time he left the bank he was the superintendent of over a 100 branches.
Also read: Atlas Jewellery owner gets three years in prison
- Commercial Bank of Kuwait (1974 - 1987): He took up an offer with Commercial Bank of Kuwait in 1974. The bank seeing immense potential in him sent him to many training programs, including a 6 months training program in Athens and one month in Philadelphia. Upon his return he assumed the post of International Divisions Manager looking after mainly the London and New York operations of the bank. In the bank he was simultaneously holding two positions - one as International Divisional Manager and other as officer-in-charge of training Kuwaiti bank Managers.
- Entrepreneur (1981): The birth of ATLAS Jewellery. Armed with the little knowledge provided by a local goldsmith, his own capital and nothing more,he opened the first ATLAS showroom in Souk Al Watya - Kuwait.
- Master Stroke: His decision to open a showroom at Souk Al Watya was based on an astute understanding of customer needs. ATLAS was the first gold outlet in the Souk. The showroom was close to the only Church in Kuwait. After prayers at church, people found it convenient to do their purchases instead of going to town and spending precious time. He won the customers trust and people kept coming back to the showroom. Within six months, the business flourished.
All the money which was invested was recovered in the form of profit. In a short span of a few years, he opened five more outlets.
- Movies: MMR also produced several films, including the blockbuster Vaishali in Malayalam. He also acted in several Malayalam films. 
Some firsts by Atlas in the gems & jewellery world:
1. World Gold Council (WGC) wanted to promote gold through advertisement. But no jeweller at that time wanted to do so. Only ATLAS joined hands and promoted gold through advertisement campaigns
2. Ramachandran in the 1996 Dubai Shopping festival, came up with the idea of giving away 1 kg gold as prize money every day. This was an instant hit with the customers
3. As a measure of transparency and customer service, Dr. Ramachandran started the practice of daily announcement of gold rates separately for 22 and 24 karat through a telephone hot line. This was very well appreciated by the customers as well as by the WGC For his above activities he was appointed as the Chairman of 'Gold Promotion Council' by the Government of Dubai, a position he held for 3 years. With the support of Government of Dubai, Gold & Jewellery Group was formed and Ramachandran was made the Secretary of the group for the first six years since 1996. At present he is holding the position of a member of the Board of Directors of the Group.
(Research by KT staffer Rajesh Sharma)

• Dubai
• India