Well-known industrialist and philanthropist, M.Ct. Muthiah (114-H '47), died in Chennai early on Monday. He was 76.
His grandfather, Sir M.Ct. Muthiah Chettiar, was the founder of the United India Life Insurance Company. His father M.Ct.M. Chidambaram Chettiar was the founder of the Indian Overseas Bank, the United India Fire and General Insurance Company and Travancore Rayons, India's first rayon fibre company.
After the sudden death of Chidambaram Chettiar in an air crash in 1954, Mr. M.Ct. Muthiah took over the mantle of the family and he headed the IOB and served as its chairman, prior to its nationalisation in 1969.
He had served as Chairman, United Fire and General insurance company, president of the Southern India Chamber of Commerce, the Andhra Pradesh State Finance Corporation, and also served as Director of Indian Bank.
A champion of industry, he had also headed the Federation of Automobile Dealers Associations of India, and Motor Vehicle Allied Industries Association.
He was one of the directors of Lakshmi Machine Works Limited, and M.Ct M. Global Investment Private Limited.
A former steward of the Madras Race Club, Mr. Muthiah's social initiatives were many.
From The Hindu Newspaper.
Doon Online extends its condolences to his family and friends.