He was 78.
The actor has worked in 149 films and was known for his comic timing in movies such as Angoor, Khatta Meetha and Andaz Apna Apna.
Verma had won three Filmfare awards. In 1976 he won it for 1976 Chori Mera Kaam, in 1979 for Chor Ke Ghar Chor and in 1983 for Angoor.
He was last seen on the big screen in 2003 film Calcutta Mail.
Photograph: Marshall Fernandes.