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Sameer Khandekar, who was the dean of student affairs and the head of the mechanical engineering department, collapsed on the dais while addressing the gathering on Friday, they said.
He was taken to the hospital where he was declared dead upon arrival, the authorities added.
A professor said that Khandekar was diagnosed with high cholesterol levels about five years ago.
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Khandekar was delivering a lecture when he felt severe chest pain and started sweating profusely. Before anyone could make sense of what was happening, he collapsed on the stage, Karandikar added.
He said the body has been kept at the IIT-Kanpur’s health centre and final rites would be performed only after the arrival of his only son Pravah Khandekar who is studying at Cambridge University.