When the House met for the day, Chairman Hamid Ansari mentioned of the passing away of the noted industralist on December 2.
Ramaswamy, who also was an educationist and a sport enthusiast, represented the state of Karnataka in the Upper House from July 1, 2004 to June 30, 2010.
"In passing away of Shri M A M Ramaswamy, the country has lost a distinguished Parliamentarian, a noted industralist, educationist and a dedicated social worker," he said.
Members stood in silence in their places as mark of respect for the departed soul.