Coimbatore was a significant part of every empire in South India and just before the advent of the English, it was under the rulers of Mysore. It bore the brunt of the Anglo-Mysore wars during the rule of Tippu Sultan.
The war-time English camps were located at Puliakulam. Even today, in the Tea-Estate compound one can see an old pillar belonging to the colonial building that was used as a mess during those days. Even now the Army, Navy & the Air-force continue to work from the same area.
Once peace reigned, the abundance of cotton, coupled with the salubrious weather of this region encouraged Colonial entrepreneur Stanes to establish the Coimbatore Spinning and Weaving Mills (CS&W). This ushered in an Industrial revolution of sorts and a number of ginning factories and spinning mills sprung up and gave Coimbatore the moniker, the Manchester of South India.
These enterprises were created by the agrarian businessmen of those days and due to the exponential growth, money was always in short supply. In order to bridge the financial gap, agrarian financiers such as A. V. Srinivasalu Naidu and N. K. P. Muthuswamy Chettiar (NKPM) supported the enterprises with loans, capital and bank guarantees.
M. Palaniswamy, the octogenarian son of NKPM recalls, “My great grandfather Negamam Kathaswamy Chettiar was a businessman in his native village and his son Palaniappa Chettiar was a financier. The grandson, my father, NKPM, managed three ginning factories including the Shanmugananda ginning factory in Pollachi. Hardworking people like V.N.Ramachandran (Premier Mills) used to cycle all the way to this factory for inspecting cotton. Observing that there was a demand for money in the textile market, my father quit ginning, realized Rs. 5 lakhs and became an indigenous banker who began lending money to the tobacco and textile sectors. He did not insist on personal guarantees or promissory notes for borrowers those days considered it to be important to settle their dues because they dreaded the 'manja kadidhasu' or the insolvency notice.” Palaniswamy continues, “One mill owner who wanted resources for his new mill came to my father NKPM at 11.00 p.m! Understanding the gravity of the situation my father immediately lent him a huge sum of money.”
NKPM and his family were close to a number of eminent Coimbatore businessmen and corporates. He also donated land to construct a school in his village.
NKPM became the Director of Vasantha Mills Limited that was promoted by Sir R. K. Shanmukham Chetty. NKPM’s son, the UK-educated N.K.P.M. Ramaswamy married the daughter of Sir R.K.Shanmukham Chetty and involved himself in the day to day administration of the mills.
It was around the Second World War that NKPM purchased 5.75 acres of land from the Imperial Bank (State Bank ) in Puliakulam (near Nirmala College) and leased it to the Defence Services at the rate of Re.1 per cent. After the war, the Defence returned all but 2.75 acres on the north eastern corner (currently Naval Officers Mess) for which they paid compensation. The NKPM layout was formed in the rest of the land and a house was built on this land around 1955 with seven more following later.
Rajesh is passionate about his city and is always looking for ways of documenting its history
