Co-founder and former Chairman of the Chettinad Group of companies MAM Ramaswamy passed away at the age of 84 in Chennai on Wednesday. He was admitted to Fortis Malar Hospital for liver and kidney ailments a few days earlier, as per news reports.
Pro-Chancellor of the Annamalai University, the industrialist was a former Rajya Sabha MP from Karnataka. A known horse-race enthusiast, Ramaswamy took over as head of the Chettinad Group in 1984 and was widely known for his philanthropic activities. Since he had no children of his own, he adopted a son MAM R Muthiah, but the pair are reportedly estranged.
Hailing from a family of entrepreneurs, the Chettinad Group had set up the Indian Bank, Consolidated Coffee, Indian Overseas Bank, Annamalai University and United India Insurance. Their business stronghold was reportedly in Burma, which later on spread across to Sri Lanka, Indonesia, Malaysia, Vietnam and Singapore.
His last rites will be conducted on December 6 in Tiruvottiyur in Chennai.