Choudhury, who was 69, was in the city to chair a meeting of Peerless Financial Services of which is the Chairman but complained of uneasiness in the morning, company sources said.
He suffered a massive cardiac arrest while being taken to hospital at around 10:30 am and declared dead.
Choudhury, popularly known as PKC, was credited with taking ICRA Ltd to new heights during his stint as CEO.