Billionaire investor and the current Big Bull of Dalal Street, Rakesh Jhunjhunwala passed away on Sunday at a Mumbai hospital at the age of 62.

Jhunjhunwala was rushed to the Breach Candy Hospital at around 6.45 am in the moring after suffering a cardiac arrest, but was declared dead on arrival by doctors at the hospital.

According to Forbes, the veteran trader and investor was worth around $5.5 billion. He was also a promoter of the newly launched airlines Akasa Air, which began operations just a week before.

Jhunjhunwala was reportedly suffering from several health issues and was last seen publically on a wheelchair at the launch of his airline.

A bullish trader in the stock markets of the country, he had been dubbed as ‘India’s Warren Buffett’.

Meanwhile, condoling his death, Prime Minister Narendra Modi said that the Big Bull “leaves behind an indelible contribution to the financial world.”

PM Modi tweeted, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world. He was also very passionate about India's progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti.”