"Bala Surve died this morning. He was hospitalised because he had diabetes, paralysis and other complications," said chief public prosecutor Kalpana Chavan.
Gangster-turned-MLA Arun Gawli is the main accused in this murder case and the court has started dictating the judgement.
Jamsandikar was killed at his Asalpha residence in suburban Ghatkopar in March 2008. Gawli was arrested on May 21, 2008 and has been in custody since then.
On October 7, 2010, the court had framed charges against Gawli and other accused under MCOCA, section 302 (Murder), 34 (common intention) and 120B (criminal conspiracy) under Indian Penal Code and Gawli and other accused had pleaded innocence
According to police, the contract of killing Jamsandikar was allegedly given by accused Sahebrao Bhintade and Bala Surve, who were his rivals in the construction business as well as in the local politics.
The crime branch had said that the other reason why Jamsandikar was targeted was that Bintade and Surve were eyeing a plot at Saki Naka in suburban Mumbai and Jamsandikar had reportedly "refused to cooperate".
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According to prosecution, Jamsandikar was murdered at the behest of Gawli, who had, along with the co-accused, conspired to execute him. He was shot dead by gunmen at his residence in suburban Asalpha village in March 2008.
The charge sheet said that a sum of Rs 30 lakh was paid to the Gawli gang for the job. The trial had commenced from October 2010.