Former Atlas Cycles President commits suicide

Atlas Cycles was one of the biggest names in the bicycle industry. At its peak, the company had the biggest factory with a monthly output of over 2 lakh units.

The former president of Atlas Cycles, Salil Kapoor, has died. According to media reports, he committed suicide at his home in Lutyens Delhi.

Kapoor’s body was discovered around 1 pm with a gunshot wound to his head. He was immediately rushed to a hospital, where he was declared dead. As per the police, Kapoor shot himself using a licensed revolver.

A note was recovered at the scene that mentioned “financial burden” as the reason for his actions. In 2015, Kapoor was arrested by the Economic Offences Wing of the Delhi Police in connection with a Rs 9 crore cheating case.

Atlas Cycles was one of the biggest names in the bicycle industry. At its peak, the company had the biggest factory with a monthly output of over 2 lakh units. It started making losses in 2014, and its first plant in Malanpur was shut down in December 2014. The second plant in Sonipat was closed in February 2018, followed by the Sahibabad factory in 2020 due to a lack of funds.

Source: MSN