Atlas Cycles ex-president Salil Kapoor shoots himself dead at Delhi home, suicide note mentions ‘financial burden’

Former president of Atlas Cycles Salil Kapoor reportedly shot himself dead at his home in Delhi on Tuesday, September 3. Kapoor used to live at Dr A P J Abdul Kalam Road in Delhi's Lutyens area.

His body was found by his manager in a pool of blood near the puja room in his house at around 1 pm, a PTI report said.

Kapoor had shot himself in his head with a licensed revolver. A note recovered from the spot where he purportedly mentioned a "financial burden" on him, the report said, citing the police officer.

His wife and three children were staying separately, the report said.

Salil Kapoor’s manager and his family stayed with him at the three-storey building, the police officer was cited saying. The former President of Atlas Cycles was rushed to a hospital immediately where doctors declared him dead. The forensic and crime teams will collect samples from the spot, the report said.

In 2015, Salil Kapoor was arrested by the Economic Offences Wing of Delhi Police in relation to a ₹9 crore cheating case. He was booked in two separate cases of cheating.

In January 2020, Kapoor’s sister-in-law, Natasha Kapoor, also ended her life by hanging herself in the same house. Natasha Kapoor left a note and urged the family members to take care of themselves but did not reveal the cause behind her taking the extreme step.

Atlas Cycles, one of India’s popular cycle brands, had shut its last manufacturing unit located in Sahibabad in 2020. The company attributed lack of funds as the reason to close down the factory, according to multiple media reports.

Atlas Cycles started posting losses in 2014 and had shut down its first plant in Malanpur in December 2014, according to reports. It continued to report losses and had to later close its second plant in Sonipat, Haryana in February 2018, it added.