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She had been diagnosed with cancer, and was admitted to Hinduja Hospital here two weeks ago.
Mona, 47, had two children from Boney - Arjun and Anshula. Arjun is set to make his debut in Bollywood with Yash Raj Films`s `Ishaqzaade`.
She had recently said on twitter that she was fed up with inquiries about her health, and that she was "battling stag 3 multiple organs cancer".
Several Bollywood celebrities expressed grief over the death. "Mona kapoor was one of the most gracious,dignified and loving human beings i knew...she felt only positivity for one and all...RIP ma`m," filmmaker Karan Johar wrote on twitter.
Veteran actor Anupam Kher said: "Is God feeling insecure? He is calling all good people. Very sad to know about Mona Kapoor`s death. She was a very helpful & kind lady. RIP."