He died at the Lilavati Hospital where he was admitted in the Intensive Care Unit a few days back.
'For the last one year he was on dialysis and earlier he had a bypass surgery as well. His condition was deteriorating because of all these ailments. He died in the morning at 10.30,' his brother Moti Sagar told IANS on phone from Mumbai.
'He will be cremated today evening in Vile Parle. He is survived by his wife, a son and a daughter,' added Moti Sagar.
Subhash Sagar started his career as an automobile industrialist and later became an executive member of the Maharashtra Motor Parts Association.
He ventured into filmmaking as a producer with the 1973 hit 'Hamrahi'. It was followed by 'Ram Bharose' (1977) and 'Pyara Dushman' (1980).
In 1975, he produced the Gujarati blockbuster 'Veer Mangda Valo'. After the success of the film he became vice president of the Gujarat Film Chamber of Commerce and served for nine years.
After that he ventured into film distribution by opening Sagar Film Distributors with offices across India before venturing into television.
Subhash Sagar produced serials like 'Ramayan', 'Shri Krishna' and 'Alif Laila'. Apart from that he made other mythological series 'Jai Ganga Maiya' and the mega regional film in Gujarati 'Mota Ghar Ni Laaj'.
He also ran an acting school Sagar Film Academy in Vadodara.