Rishi, a third-generation actor of the famous Kapoor dynasty, is survived by his wife Neetu Kapoor, actor son Ranbir and daughter Ridhima.
The actor tied the knot with actress Neetu Kapoor in 1980 with whom he shared screen space more than twelve movies. Kapoor was admitted to H N Reliance hospital by his family yesterday.
He was last seen in 102 Not Out co-starring Amitabh Bachchan, where the latter played Kapoor's centenarian father.
Following Kapoor's death, Indian politicians and celebrities posted tributes on social media to the veteran actor.
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In 2018, Rishi Kapoor was diagnosed with cancer, following which the actor was in NY for more than a year to receive treatment.
Kapoor was first diagnosed with cancer in 2018, and received treatment initially in the US, before returning to India late in 2019. Rahul Gandhi wrote, "This is a awful week for Indian cinema, with the passing of another legend, actor Rishi Kapoor".
Indian prime minister Narendra Modi also conveyed his condolences to the late actor.
Kapoor starred in more than 100 films after his father first launched him in Mera Naam Joker in 1970 when he was a teenager. He was passionate about films and India's progress.
Rahul Gandhi, a Congress party leader, said this was a awful week for Indian cinema as another top actor Irrfan Khan died on Wednesday, also of cancer. Kapoor's last appearance was "The Body", a remake of Oriol Paulo's 2012 Spanish film of the same name.