He was 76 and is survived by wife, two sons and two daughters.
Shegaonkar was member of Legislative Council elected from the Legislative assembly quota and belonged to RPI (A).
Shegaonkar's Private Secretary Gangadhar Waghmare said the RPI (A) leader had come down from his room at the MLA hostel in South Mumbai when he suffered a stroke. He was immediately rushed to Bombay Hospital but was pronounced dead on admission.
The funeral will take place in Aurangabad. Shegaonkar was Minister of State for Housing, Slum improvement, Repairs and Reconstruction, Khar lands and social justice during the Chief ministership of Vilasrao Deshmukh.
Last year in November, Shegaonkar had suffered a heart attack while addressing a press conference as Chairman of the People's Education Trust.
