84-year-old Ramaswamy, founder of the Rs 10,000 crore Chettinad Group and a recipient of several awards, including the Padma Shri, died on December 2 due to kidney and heart- related ailments.
The body was kept for public homage yesterday and, later this evening, the final rites were performed by Ramaswamy's sister and educationist Meena Muthiah's adopted son, Annamalai Muthiah, at the Besant Nagar electric crematorium, sources said.
Several political leaders, including MDMK chief Vaiko, DMK leader MK Stalin, his sister and MP Kanimozhi, and industrialist AC Muthiah paid their last respects to the departed soul.