The incident took place on Sunday evening at an open ground near the Hanuman temple, where the handi was placed at a height of 20 feet, they said.
The deceased has been identified as Sachin Bagde, a resident of Bagde Mohalla in the locality.
The mishap occurred when he was watching the event and the troupe dismounted on him, crushing the victim under all the weight.
Soon, residents rushed him to the government medical college and hospital, where he was declared brought dead.
According to Nandanwan police, the event was organised by corporator Pravin Naral without proper permission and there was no medical arrangement at the venue.
