Atlas may sell healthcare entity, GCC stores to repay loans | GulfNews.com:
"With the bail of Atlas Jewellery founder and chairman MM Ramachandran reportedly rejected, he is now considering putting up his prime asset — a successfully running hospital in Oman for sale to help repay part of the Dh550 million that he owes to banks, industry sources told Gulf News.
A meeting of the steering committee of banks set up to recover the millions took place on Wednesday evening, banking sources said.
“Earlier this proposal [to sell his assets in Oman] was not acceptable to him as the Atlas Health Care Group has been a profit-making entity with a leading Omani group as its sponsors. The sponsor is now considering to take over the business from Ramachandran once proper valuation of the asset has been carried out,” industry sources explained."
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