AIADMK was given its name by Mr Krishnaswamy. He was the minister in the former MGR cabinet in 1978 till MGR's death in 1987.
Krishnaswamy is the brother of late K A Madiazhagan who was one among the founding members of DMK.
M Karunanidhi, Tamil Nadu Chief Minister has condoled his death.
Krishnaswamy (78) is survived by two sons and two daughters.
His funeral will be held on Wednesday, May 19.