Noted industrialist and Chairman and Managing Director of Loyal Textile Mills, Manikam Ramaswami passed away here.
"..We inform you about the sad and sudden demise of our beloved Manikam Ramaswami, on Monday evening, October 2,2017," the Tamil Nadu based-company said in a BSE filing today.
Ramaswami is survived by wife Valli M Ramaswami and daughter Vishala M Ramaswami.
Ramaswami had headed Loyal Textiles for several years.
According to the company's website, the Loyal Group was founded by Karumuttu Thiagarajan Chettiar in 1956.
The company which primarily started as a small spinning and weaving mill, later became one of the largest and most reputed textile groups.
Ramaswami, a Gold Medallist from IIT Madras, had also served the Thiagarajar School of Management owned by the company, as its correspondent.
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