Former Atlas Cycles president Salil Kapoor allegedly dies by suicide

Former president of Atlas Cycles, Salil Kapoor, has allegedly committed suicide at his home in Lutyens Delhi on Tuesday. Police officials reported that Kapoor's body was discovered around 1 pm near the puja room of his house on Dr A P J Abdul Kalam Road by his manager with a gunshot wound. A note recovered at the scene mentioned a "financial burden" as the reason for his actions.

According to police, Kapoor shot himself in the head using a licensed revolver. His family, including his wife and three children, were staying separately at the time. Kapoor's manager and his family lived with him in the three-storey building.

"Kapoor was immediately rushed to a hospital where doctors declared him dead," said a police officer.


Forensic and crime teams have been summoned to collect evidence from the scene. Investigations are ongoing.

In 2015, Kapoor was arrested by the Economic Offences Wing of Delhi Police in connection with a Rs 9 crore cheating case. He faced charges in two separate cases of cheating.

Tragically, this is not the first instance of a death in Kapoor's family under similar circumstances. His sister-in-law, Natasha Kapoor, also ended her life in the same house in January 2020. She left behind a note urging family members to take care of themselves but did not specify the reasons for her actions.

Authorities continue to investigate the circumstances surrounding Salil Kapoor’s death.

The Rise and fall of Atlas Cycles

Atlas Cycles - a name that became a synonym for bicycles in India - shut its last manufacturing unit in Sahibabad in 2020 citing lack of funds to run the factory.

The company shut the factory on June 3, which ironically was also the World Bicycle Day.

The plant, the biggest in the country, started in 1989. It was the last operational plant of the Atlas Cycles with a monthly production of over two lakh bicycles.

The company started making losses in 2014 and its first plant in Malanpur was shut down in December 2014. The losses continued to mar the growth and its second plant in Sonipat, Haryana was also closed in February 2018.

The Sonipat plant was the first unit established in 1951 by Jankidas Kapoor. Starting from a modest tin shed at Sonepat, Atlas Cycle Industries Ltd catapulted into a 25-acre factory complex in just 12 months.

It soon became India's largest bicycle manufacturer and was the official supplier of bicycles to the 1982 Asian Games held in the national capital.

The financial crunch it faced since 2014 turned from bad to worse in the last one-and-a-half years and the coronavirus lockdown only compounded it.

With PTI Inputs