"Our dear Rishi Kapoor passed away peacefully at 8:45 am IST in hospital today after a two-year battle with leukaemia". Mr Kapoor died on Thursday morning in a Mumbai hospital after losing a battle with cancer.
He received the National Film Award for his debut role as a child artist in his father Raj Kapoor's 1970 film Mera Naam Joker.
According to reports in the Indian media, his family released a statement confirming his death.
Kapoor, who was known to his family and fans by his nick-name, Chintu, is survived by his wife Neetu and son Ranbir, both popular Hindi film actors, and daughter Riddhima.
Saif Ali Khan and Rishi Kapoor in a still from Hum Tum. "Just passed away... I am destroyed".
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Indian Prime Minister Narenda Modi said Kapoor was "multifaceted, endearing and lively".
The iconic Bollywood actor had been diagnosed with cancer in 2018. #Rishisir your candid heart and immeasurable talent will never be encountered again.
With India now under lockdown, the Kapoor family issued a statement to urge fans not to publicly gather to pay their respects to Kapoor as is the tradition in the country.
"In this hour of personal loss, we also recognise the world is going through a very hard and troubled time". My deepest condolences and strength to the Mr. Kapoor's family, ' added another devastated fan.