Bokade, who was a part of the film world for over two decades, died Sunday night.
His daughter Divya Bokade confirmed the news to IANS, saying: "He was hospitalised day before yesterday (July 6) because he suffered a heart attack, and he passed away last night (July 7)."
His last rites will be conducted Monday afternoon.
During his stint as a producer, he gave the industry movies like "Sapne Saajan Ke", "Dhanwaan", "Kalinga", "Prahaar", "Sauda" and "Yeh Pyaar Hi Toh Hai".
He is survived by his two daughters Divya and Kiran, and son Krishna.