He contributed immensely towards education

Shivani Bhakoo

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Tribune News Service

Ludhiana, April 14

Satyanand Munjal inspired many people with his immense contribution towards the education sector. He opened Bahadur Chand Munjal (BCM) chain of schools in 1970-80s.

He was the president of BCM, Shastri Nagar, and opened branches at Chandigarh Road and Urban Estate Dugri among other places. He also started BCM College of Education. Because of his untiring efforts, over 30,000 students are getting education in BCM Chain of Institutes.

Was a Board member of various social institutions

A philanthropist by nature, he also served on the Board of various social institutions. 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 remain his most notable works. He undertook several new initiatives by keeping a regular track of the functioning of these institutions.

Munjal propagated teachings of the Arya Samaj extensively. Satyanand Munjal’s family owns Majestic Auto, Highway Cycle, Munjal Auto and Munjal Showa companies after the partition of family business. Besides, 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 2, 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.; and Dayanand Munjal lnv. 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.

His son Umesh Munjal said in 1944, 20-year-old Brij Mohan Lal 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. The Partition of India in 1947 forced them to move to Ludhiana.

“The town was already a hub of Indian bicycle business as well as an important textile centre. Through their business acumen, they expanded their company and positioned themselves as business tycoons of India. All brothers gave the future generations a strong foundation,” said Umesh Munjal.