-SATISH HANDA
Atlas Cycles – a name that became a synonym for bicycles in India has closed its last
manufacturing unit at Sahibabad near the national capita due to lack of funds to run the
factory on June 3. Company’s CEO N P Singh Rana, however, insists the shutdown is only
temporary and the company will resume operations once it is able to raise funds worth Rs 50
crore by selling surplus land belonging to the company. Large number of employees became
jobless had a meeting on June 8, 2020 outside its main factory Sonepat along with members
of biggest employees association CITU to discuss future action against the firm.
Brajesh Gupta of association told that large numbers of employees working in Atlas Cycle
Industries terminated by the company were not paid their salaries for months at the time
shutters were pulled down at its main unit Sonepat and apart from salaries the employees
have not been provided benefits of gratuity as well as pension scheme by the company so far.
They expressed doubt over company had deposited provident fund amount in their accounts.
Gupta alleged, management started selling company’s assets and other properties in past
years and also sold out land of value worth crores of rupees at Model Town Sonepat having
company’s guest house and mess, besides also started disposed of their factories one by one
in past. Information reveals, Atlas Cycle shut its last manufacturing unit in the country at
Sahibabad recently on June 3 as such jobless employees has now lost all hopes to get their
pending salaries.
Atlas Cycle empire was raised about seven decades ago by Rai Bahadur Janki Das Kapoor in
the year 1950-51 in 25 acres area at Sonepat, later set up its other manufacturing units at
Ludhiana, Sahibabad, Mulanpur and Gurugram collapsed during fourth generation in the
family. At the time of independence, Rai Bahadur Janki Das migrated from West Pakistan
was allotted 25 acres land at Sonepat and started manufacturing cycle seats prior to 1951
when he started manufacturing Atlas cycles in small scale in his allotted land at Sonepat and
gradually expanded his business till year 1967 when every cycles sold in the country was
known as ‘Atlas Cycle’. It was a big shock to family when Rai Bahadur Janki Das passed
away in 1967 and fast growing Atlas Cycle was handed over to his sons Bishambar Das
Kapoor, Jaidev Kapoor and Jagdish Kapoor but all important decisions were made by
Bishambar Das Kapoor when Atlas Cycle Industries moved ahead to heights and set up
another manufacturing units at Sonepat, Ludhiana, Sahibabad Malanpur and Gurugram.
Till the year 2000 Atlas Cycles achieved five star reputation in the country under the control
of Bishambar Das Kapoor also looking after the management of main units at Sonepat and
Ludhiana. Whereas Jaidev Kapoor was controlling the management of Milton Cycle
Industries at Sonepat and Sahibabad unit and Jagdish Kapoor was controlling the
management of Auto Manufacture unit at Rasoi and Atlas Tube Mill at Gurugram.
It was another shock to Atlas Cycle Group of industries in the year 2000 when Bishambar
Das Kapoor died and the group started witnessing downfall after this allegedly due to miss-

management, financial crisis suffered by the company and other reasons in the family started
selling its properties and business drastically squeezed when the manufacturing units were
closed down one by one by the family in past 17 years, and after three years Angad Kapoor
the fourth generation of Rai Bahadurr Janki Das Kapoor closed down the shutters of main
manufacturing unit at Sonepat completely. According to few old employees of Atlas Cycle
Industries, family is likely to sell out 25 acres land of value worth over Rs 423 crore to some
builder to develop a housing colony where main factory exists at present sealed by Municipal
Corporation because house tax on the property worth Rs 74 lakh has not been remitted since a
long time in spite of several reminders by the government.