The actor had been hospitalized two weeks ago for lung infection but succumbed to it.
Fondly known as Tatya by his family and friends, he was a well known figure who acted in both Hindi and Marathi films.
In his long career, he has won two Filmfare awards – in 1984, he won the award for the best supporting actor for Ardh Satya and in 1991, the best villain trophy for his portrayal of a ruthless eunuch in Sadak.
With his sad demise, the Hindi film fraternity condoles his death and many celebrities took to social media to pay their respects.
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