P Rajagopal, the founder of Saravana Bhavan restaurant group and a convict in a 2001 murder case, passed away at a hospital here on Thursday.
Rajagopal, 72, was admitted to Vijaya Health Centre after he suffered a cardiac arrest.
He had recently surrendered before the Madras High Court to undergo life imprisonment for murdering one of his employees.
On July 9, the Supreme Court had refused to grant relief to Rajagopal, who had sought more time to surrender in the case on medical grounds. He was directed to surrender by July 7.
According to the prosecution, an astrologer advised Rajagopal to marry Jeevajothi, the daughter of a Saravana Bhavan employee, to become richer, following which he tried to woo her.
As he could not succeed in his plan, he hatched a criminal conspiracy to eliminate Prince Shantakumar, who was married to Jeevajothi. Shantakumar was murdered in October 2001 and his body was found in Kodaikanal city of Tamil Nadu.