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Kuku Kohli died at 77, with reports describing a heart attack or cardiac arrest in Mumbai.
His brother-in-law, Balraj Irani, confirmed the news in one report and said Kohli had recently been hospitalised for a blockage and fitted with a stent.
Another account said filmmaker Ashoke Pandit confirmed the death and described Kohli as previously hale and hearty.
Kohli was best known for Phool Aur Kaante, which launched Ajay Devgn's career in 1991.
Why it mattersThe death of a notable filmmaker marks the end of an era for 90s Bollywood action and romance cinema.
More context
He is survived by Aruna Irani and two daughters, according to the reporting.