He was twice elected vice president of Board of Control for Cricket in India, serving his second and final term from 1995 to 1999.

She was a great niece of Bapu Gokhale, a Third Anglo-Maratha War general under Peshwa Baji Rao II of the Maratha Empire.

[16] While at Raman Baug High School, Agashe took an interest in cricket, field hockey, football, and badminton.

He further sought training at the National Defense Academy before being selected as a wicket-keeper-batsman for the West Zone cricket team.

While a West Zone player, his performance in the matches in Calcutta got him selected for the Indian Universities cricket team to tour Sri Lanka.

[28] Beginning in the 1970s, under Agashe and his brother, the syndicate manufactured liquor in Shreepur, Maharashtra,[33] specialising in whisky production under its several flagship brands.

[39] In 1978, Agashe became the sole managing director of the Brihan Maharashtra Sugar Syndicate upon his brother's retirement from the office.

[40][41] By 1985, Agashe worked as a promoter for several cricket matches and tournaments within India,[42] as well as in the United Kingdom and the Middle East.

[47] He served as chairman to Kolhapur Steel, after the syndicate had begun work in metal printing under his brother in the early 1980s.

He diversified the syndicate into pharmaceuticals, power generation, publication (with Mandar Printing Press),[48] and real estate by the early 1990s.

[55] In August, it was announced that the BCCI had set up a panel, with Agashe as its chief, looking into hosting the 1995–1996 Cricket World Cup before submitting a formal bid in December of that same year.

[56] In September of that same year, Agashe proposed several changes to the Ranji Trophy format for its points table, suggesting that the BCCI either follow the Australian system observed at the Sheffield Shield or to revert to the older format followed before the Ranji Trophy extended match durations to four days.

[64] In December that same year, he served as the printer and publisher of the translation of the Dnyaneshwari into Hindi, authoring its foreword as the trustee of the Dnyaneshwar Sansthan in Alandi.

[67] To further mark the occasion, a motorcycle rally was organised on Jangali Maharaj Road, Pune, and a festschrift on him was published.

[68] The celebrations also included a cricket match played in his honour at the Nehru Stadium in Pune, a felicitation by Vijaysinh Mohite–Patil in Shreepur, and a reception by Sharad Pawar at the Ganesh Kala Kreeda Kendra.

[69] That same year, He was invited as a keynote speaker to the 75th Akhil Bharatiya Marathi Sahitya Sammelan under the presidency of Rajendra Banhatti.

[19] Agashe served a record seventh term as executive chairman of the Maharashtra Cricket Association, being elected in April 2003.

[80][81] Agashe moved court countermanding the elections, alleging that the absence of his vote ensured an unfair victory to Dalmiya nominee Ranbir Singh Mahendra.

[88] That year's Maharashtra Cricket Association election was in sight of a reformed regulation scheme recommendations between the two parties,[89] which was won by Shirke.

[91] Critics claimed that the court cases between the two parties were responsible for a lack luster cricketing season in Pune that year.

[105] The judicial magistrate remanded Agashe and the 14 other suspects to police custody, with provisions of medical assistance if required, citing the senior citizenship of a majority of the accused.

[106][107][108] In December 2008, the economics offenses wing of the crime branch conducted a raid of Agashe's Aundh residence to recover Rs.

[110][111][112] While in judicial custody, Agashe's health deteriorated and he was admitted to Sassoon Hospital on 22 December 2009, suffering from severe diabetes and gangrene,[113] for which he had previously been denied medical assistance.

[118] A condolence meet following Agashe's death was held at the Poona Youth Club,[119] at the Maharashtra Cricket Association,[120] and his family's residence in Shaniwar Peth.