Atlas group seeks time to pay back debt | GulfNews.com:
"Indira Ramachandran, wife of the beleaguered founder-chairman of Atlas Jewellery Group, has sought time to repay loans owed to several banks, requesting them to desist from taking further legal action, Gulf News has learnt.
At a meeting on Wednesday, the wife of M.M. Ramachandran, assured bankers that her husband would settle the debt, believed to be around Dh550 million.
Accompanied by management consultants hired by the Atlas group to resolve the issue, Indira attended the steering committee meeting convened by more than 15 banks involved in the financial impasse."
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