Gold tycoon Atlas Ramachandran has been released from Dubai jail, Khaleej Times reported on Saturday.
Ramachandran who also has business establishments in Oman has been serving a jail term in Dubai since August 2015 after his arrest related to bounced cheque cases.
“He has been released from jail on bail. He still owes money to private parties and that has to be resolved,” an official source close to the case told Khaleej Times.
“The family wish to guard their privacy and is not willing to speak out yet,” said the official.
Jail sources has confirmed that Ramachandran’s name is not in the list of prisoners, and it is understood that he was released on bail since the beginning of Ramadan.