Satyanand Munjal, co-founder of Hero Cycles group died at the age of 99 at his residence in Model Town, Ludhiana on Thursday.

He was popularly known as 'Mahatma' for being devoted to several social causes and was a much-respected figure in business and social circles. A devoted Arya Samajist, Munjal was the eldest of the Munjal brothers and built the Hero Group, which has now emerged as one of the largest business firms in India.

Besides Hero Group, Munjal helped establish numerous medical, educational and infrastructure facilities. Among his notable contribution to Ludhiana are the Bahadur Chand Munjal (BCM) Arya schools, Hero DMC Heart Institute, Dayanand Medical College & Hospital.

Punjab Chief Minister Parkash Singh Badal, Deputy Chief Minister Sukhbir Singh Badal and Revenue Minister Bikram Singh Majithia condoled the demise of Munjal.

News Source: Hero Cycles patriarch Satyanand Munjal passes away | ET Auto