Mahatma Satyanand Munjal- First person from Munjal family to enter bicycle business

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Ludhiana, April 14, 2016: The man who inspired many with his contribution in education sector and in religious organizations for Arya Samaj community Satyanand Munjal, co-founder of Hero Cycles group, died a natural death at the age of 99 at his residence in Model Town, Ludhiana, and early morning on Thursday. He was admitted in DMCH hospital for last couple of days and was discharged on Wednesday as he complained for the respiratory disease.

Munjal was popularly known as ‘Mahatma’ Satyanand Munjal for being devoted to several social causes related to the Arya Samaj. The funeral is scheduled to be held at 5 pm today at Model Town Extension
crematorium. A philanthropic by nature he also served on the Board of various social institutions also.

His wife Pushpa Devi expired two years back. Apart from building a business empire, his philanthropic acts such as Bahadur Chand Munjal (BCM) Arya schools, Hero DMC Heart Institute, Dayanand Medical College and Hospital (DMCH) remain his most notable works. He undertook several new initiatives by keeping a regular track of the functioning of these institutions. Munjal also propagated teachings of the arya samaj extensively. Satyanand Munjal's family owned Majestic Auto, Highway Cycle, Munjal Auto and Munjal Showa companies after the partition of family business.

He is survived by six children- five sons Yogesh Munjal, Mahesh Munjal, Suresh Munjal, Umesh Munjal, and a daughter Neelam Thapar married to Arun Thapar. One of his daughter also expired few years back, Satyanand Munjal served as a Co-Chairman and Managing Director of Hero Cycles Ltd. Munjal served as the Chairman of Rockman Cycle Industries Ltd. He served as the Chairman at Munjal Auto Industries Limited from 1996 to February 02, 2015. He served as Vice Chairman of the Board at
Hero Cycles Limited. He serves as Director of Satyam Auto Components Ltd.; Hero Investments Pvt. Ltd; Thakurdevi Investments Pvt. Ltd.; Bhagyoday Investments Pvt. Ltd.; Munjal Bros. Pvt. Ltd.; Dayanand Munjal Inv. Pvt. Ltd. He served as Director at Shivam Autotech Ltd until August 6, 2014. He served as a Non Executive Director of Hero Honda Motors Ltd. from August 3, 1991 to October 25, 2006. A philanthropic by nature, he serves on the Board of various social institutions.

In year 1944; twenty year old Brij Mohanlall and his three brothers, Dayanand (32 years), Satyanand (27) and Om Prakash (16) moved from their birthplace Kamalia in Pakistan to Amritsar. There they started supplying components to the local bicycle business. Only one of the Munjal brothers had previous business experience although two had worked for the British in the Indian Civil Service. Partition of India in 1947 forced them to move to Ludhiana. The town was already a hub of the Indian bicycle business as well as an important textile center. Through their business acumen, they expanded their company by leaps and bounds and positioned themselves as business tycoons of India.

Punjab Chief Minister Parkash Singh Badal, Deputy CM Sukhbir Singh Badal and Information & Public Relations Minister Mr Bikram Singh Majithia today mourned the sad demise of Hero Cycles patriarch Satyanand Munjal (99), who passed away at his residence in Model Town, Ludhiana early today morning.

In a condolence message, CM, Deputy CM and IPR Minister expressed their sadness over the demise of Satyanand Munjal who was popularly known as “Mahatma” and was a much-respected figure in the business and social segments in the country. Sharing their heartfelt sympathies with the members of bereaved family, they prayed to almighty to grant peace to the departed soul and strength to the family members to bear this irreparable loss.

Date: 
Thursday, April 14, 2016
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