After retiring from public sector undertaking (PSU) Bharat Heavy Electricals Ltd (BHEL) as the Executive Director, Saraf served as the Director of Gujarat State Petronet Ltd (GSPL) till December 2008.
In April 2015, he was named as an accused in Amarkonda coal block case in a CBI charge sheet.
Since then, his health had been deteriorating, and this was his third heart attack, according to family sources.
Saraf was admitted in a local private hospital here for hypertension, where he suffered a heart attack. Soon after, he is said to have undergone dialysis for both kidneys.
He lived in Ahmedabad and was given exemption from personal appearance in the case. However, his petition to travel to Canada to meet his son and family was declined by the Patiala House Court of Delhi in July 2015.
Having completed Mechanical Engineering in 1959, Saraf had joined BHEL, which he served for 33 years. Later, he also served on the board of Jindal Power Ltd and GSPL.
As a technocrat, he was an expert in setting up and managing thermal power plants.
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