'India's Warren Buffet' - the colourful stock market billionaire Rakesh Jhunjhunwala - dies days after airline launch

Calling the 62-year-old"indomitable", Prime Minister Narendra Modi echoed tributes from other senior officials, tweeting that the death of the tycoon was"saddening."

Jhunjhunwala had invested US$35 million for an estimated 40 percent stake in Akasa Air which made its maiden flight in the Asian country's crowded aviation market last Sunday. "A lot of people question why I've started an airline. Rather than answer them, I say I'm prepared for failure," he told an industry event in February.

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