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Bhave died on Friday night. She is survived by her husband Anand Bhave, the sources said.
Journalist-activist Jatin Desai described Bhave as a multi-faceted personality.
She was also an academician and an intellectual, who fought for the rights of common citizens, he said.
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During the Emergency, she had offered her home as shelter to underground political workers like Mrinal Gore.
Following the mysterious death of a Dadar resident Ramesh Kini in the 1990s, Bhave had raised her voice against the builder-politician nexus and demanded a probe.