Jeweller Atlas Ramachandran was finally released from Dubai jail on Saturday, after three years.
The 75-year old Kerala-based jewellery businessman has been serving a jail term in Dubai since August 2015 after his arrest in bounced cheque cases. English daily, Khaleej Times report confirmed the news of Atlas Ramachandran’s release on bail. Ramachandran's family kept the news private till now. One of the conditions of the bail will not permit him to travel outside UAE.
Atlas Ramachandran’s total liability to the banks is considered as approximately Rs.600 crores. Ramachandran reportedly said that during his jail term he was not willing to give up hope even for a minute, says Khaleej Times. In an interview with Khaleej Times, Ramachandran expressed only one worry in life and that is about his wife who almost fought a lonely battle which made way for his release.
It was the intervention of External Affairs minister, Sushma Swaraj thatpaved the way for the release of Atlas Ramachandran. Indian Ambassador to UAE Navdeep Singh Suri worked hard with UAE authorities for Ramachandran's release. The withdrawal of cases pending against Ramachandran by a consortium of 22 banks has cleared the deck for Ramachandran’s release. But then, a case filed by a major financier who helped him to buy jewellery was not ready to withdraw the case. Finally, he also decided to withdraw the case based on some assurance, which in turn helped him to get a bail from the court.
Dubai Court had convicted him for three years on a bounced cheque case. His wife, Indira Ramachandran’s lonely battle resulted in his release. It was she who finally approached the BJP leaders of Kerala. BJP State President Kummanam Rajasekharan and other leaders approached the BJP central leadership. Under compulsion, Union Minister Sushma Swaraj intervened in the case. His age has also come as an advantage to him.
In the request, Indira Ramachandran had informed authorities that Ramachandran has enough assets in Kerala to repay the loan amount. Considering this statement, Dubai authorities may soon send a team to Kerala to assess the properties owned by Ramachandran. Bank authorities are also expecting an affidavit from Ramachandran regarding with this.