Manikam Ramaswami, 63, chairman and managing director of Loyal Textile Mills, passed away in Chennai on Oct 2, 2017.
Sources said Ramaswami had collapsed after being administered anaesthesia for a dental procedure and was taken to a private hospital in Adyar where doctors declared him dead.
His Loyal Group includes ‘P.Orr & Sons’, a popular watch dealing and servicing company.
He was also passionate about education — he was the correspondent of the Thiagarajar School of Management, Madurai and Thiagarajar Model Higher Secondary School, as well as the secretary at the Thiagarajar College of Preceptors.
Ramaswami was the past chairman of TEXPROCIL, the association for cotton textiles exports promotion.
He was the Honorary Consul for Chennai, The Federal Democratic Republic of Ethiopia.
As chairman at TEXPROCIL, he had taken several efforts to boost yarn exports.
He joined Loyal Textile Mills, his family business, full time in 1976. The company’s revenues have risen to ?200-plus crore from ?2.5 crore in 1975, said a statement from his office.
Manikam Ramaswami: Know More- The industrialist is survived by wife Valli Manikam Ramaswami and daughter Vishala Ramaswami.
- A mechanical engineer from IIT Madras, he was awarded the Banco Foundation Gold Medal.
- As part of his college project, he received a patent for an oscillating piston internal combustion engine, the statement said. He has also served as chairman for SIMA.
- He also played a key role in the Confederation of Indian Industry (CII). He was the past chairman of CII Tamil Nadu State Council.
