Atlas owner Ramachandran jailed for Dh34m bounced cheques | GulfNews.com:
"The owner of Atlas jewellery has been jailed for three years for issuing two bounced cheques worth Dh34 million.
M.M. Ramachandran, a 73-year-old Indian businessman, had issued two cheques worth Dh4 million and Dh30 million to a local bank. The bank complained against him once after cheques bounced and he failed to settle the outstanding dues in August.
"Ramachandran will be jailed for three years," said presiding Judge Ahmad Shiha on Thursday morning. "
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