Police have confirmed that they are not looking for anyone else in connection with the deaths.
The couple were named in media reports which added that Mr Badial had made his fortune in the Asian textile business.
Officers were called to the exclusive property in Kenilworth Road, Coventry, West Midlands, shortly before 3pm on Tuesday by ambulance colleagues after a man in his 80s was found dead in the back garden.
The body of a 73-year-old woman was also found inside the address.
West Midlands Police said in a statement: “The couple have not yet been formally identified but are believed to be husband and wife.
“Detectives are not currently looking for anyone else in connection with the deaths. Forensic post-mortems will take place in due course.
”The house has been cordoned off while inquiries continue to establish the circumstances that led to the deaths.”
The house remained sealed off on today, July 1, while police continued with their enquiries.
Kenilworth Road is a leafy, sought-after street in Coventry where properties regularly sell for in excess of £1 million.
The deaths of the couple have sent shockwaves through the local community.