According to Lt Gen V Ravishankar, who was treating him at the hospital, he had lymphoma. He was in hospital for over a month.
"Mr Rai passed away around 4 pm in Lilavati hospital ICU," Ravishankar told IANS via a message.
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During his stay at the hospital, he was visited by Aishwarya's in-laws Amitabh Bachchan and Jaya Bachchan.
Amitabh Bachchan also mourned the death of Krishnaraj Rai.
"Death has but one end... And words cannot define it," Amitabh tweeted on Saturday night.
T 2468 - Death has but one end .. and words cannot define it ..!!
— Amitabh Bachchan (@SrBachchan) March 18, 2017
The 74-year-old thespian also grieved about the loss on his blog. He wrote: "Glimpses of reactions in the mind, of the lost one, of those that shall reflect on the lost one and suddenly then in the midst of sorrow and grief among the grieved and grieving."
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He also added, "That walk to the ultimate destination and the reality... Embracing the tragedy, the discussions on its transport, its rituals, its formalities... The custom, the tradition, the visitors with the sadness and the embrace of consolation, the last rites, the carriage, the placement, the cremation... What to say what to put out where to put to... All laden with grief and departure".
Krishnaraj Rai is survived by his wife Brindya Rai, son Aditya and daughter Aishwarya.
His funeral was held on Saturday night, where a host of film celebrities paid their last respects.
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