The event was scheduled for Wednesday.
"Yashji has always stood by me. Whenever I needed him, he was like a guiding brother to me. He had seen me growing from an actor to filmmaker and attended every anniversary and every event of Mukta Arts," Ghai said in a statement.
Yash Chopra died Sunday. He was 80.
"His absence saddens me deeply today (Wednesday) on the 34th anniversary of Mukta Arts. He was the first person to call me when high court ordered me to discontinue Whistling Woods Film Institute in Mumbai and asked me if I need any help from him. He extended full support. How can you forget these kind of giving people in life," said Ghai.