Rungta passed away this morning at his residence, said BCCI CAO Prof Ratnakar Shetty.
He served as the BCCI President for a three-year term between 1972-73 to 1974-75.
Known as 'Bhaiji' to his friends and close acquaintances, Rungta continued to be involved with the BCCI affairs for several years.
Rungta's brother Kishan is a former cricketer and ex-chairman of the national selection panel while his son Kishore is a former treasurer of the Board.