According to reports, Chandraswami was on dialysis. Recently, he also suffered stroke followed by severe sepsis and developed multiple-organ failure.
He first gained fame through his skill as an astrologer but his rise to national prominence came with association with former Prime Minister Narasimha Rao.
Chandraswami was accused of several financial irregularities and was ordered by the Supreme Court to pay penalty in several Foreign Exchange Management Act violation cases registered by the Enforcement Directorate.
Chandraswami is also said to have given spiritual advice to the Sultan of Brunei, Sheikh Isa bin Salman Al Khalifa of Bahrain, actor Elizabeth Taylor, British Prime Minister
Margaret Thatcher, arms dealer Adnan Khashoggi, and underworld don Dawood Ibrahim.
The controversial spiritual leader was born in 1948 and came from Behror in Rajasthan.
The godman was also allegedly involved in financing the assassination of former Prime Minister Rajiv Gandhi.
In its report on the assassination, the Jain Commission dedicated a volume to his alleged involvement in the case.
Allegations of financial irregularities were often levelled at the long haired, white robed self-proclaimed godman. In 1996, he was arrested on charges of defrauding a London-based businessman.
He also faced charges for repeatedly violating the Foreign Exchange Regulation Act.