Satyanand Munjal a Co-Founder of Hero Group is No More [ Current Affairs ]
Satyanand Munjal the co-founder of Hero Cycles group passed away in Ludhiana, Punjab at the age of 99 years. He was widely known as ‘mahatma’ Satyanand Munjal for being enthusiastic to numerous social grounds connected to the Arya Samaj.
About Satyanand Munjal:
- He had co-founded hero group with his three brothers.
- He had occupied himself in success of Hero Cycles group staring from bicycle spare parts business with his three brothers.
- He had also served as a Co-Chairman and Managing Director (MD) of Hero Cycles Ltd.
- With structured a business empire, Munjal also broadcast teachings of the arya samaj lengthily.
- He was known for his humanitarian acts such as Bahadur Chand Munjal (BCM) Arya schools, Hero DMC Heart Institute, Dayanand Medical College and Hospital (DMCH).
- He had undertaken several new initiatives by keeping a regular track of the functioning of these institutions.
About Hero Group:
- Hero group was founded in 1956 by the four Munjal brothers:
- Om Prakash Munjal
- Late Satyanand Munjal
- Late Brijmohan Lall Munjal
- Late Dayanand Munjal
- The brothers greeted from a small town called Kamalia, now in Pakistan.
- They have established a business of bicycle spare parts in the year 1944 in Amritsar. After partition of India, the brothers moved to Ludhiana and started a bicycle unit called Hero Cycles in 1956.
- Hero became the biggest manufacturer of bicycles in India in 1975 with a production of 7500 cycles per day.
- Hero group joined Honda Motors of Japan to create Hero Honda Motors Limited in 1984 and it became one of the market leaders in motor-cycle sales in India.
- Hero Cycles produces over 18, 500 cycles a day in 1986, the highest in global reckoning.
- Hero group had named in the Guinness Book of World Records as the largest bicycle manufacturer in the world with the 48 % share of the Indian market.
- Hero Honda became the world’s largest manufacturer of two-wheelers up to 2004.
- Hero and Honda separated company, so forming Hero MotoCorp and Honda moving out of the Hero Honda joint project in August 2011.
- Hero has crossed the figure of 13 Crore Cycles in 2012.
- Published on: April 18, 2016