57-year-old Bhatti, one of India's most popular comedians, died in a road crash in Jalandhar today.
"Jaspal Bhatti was a King of Satire and his untimely death is a great loss to the people not only in India but all over the world," Lord Paul said in his condolence message.
Bhatti was travelling from Moga to Jalandhar to promote his new film 'Power Cut' when his car hit a tree early this morning.