Atlas Cycles' former president Salil Kapoor allegedly died by shooting himself at his residence in Delhi's APJ Abdul Kalam Marg, officials said on Tuesday. The police have recovered a suicide note from Kapoor's home, India Today reported. Initial probe revealed that Kapoor allegedly shot himself with a revolver while sitting in the temple within his home.

After arriving at the scene at around 2.30 pm, police also recovered a suicide note from Kapoor's home. Initial investigation revealed that Kapoor allegedly shot himself with a revolver while sitting in the temple area of his three-storey home.

"Salil Kapoor, a former President of Atlas Cycles, died allegedly by shooting himself at his residence at Doctor APJ Abdul Kalam Lane. A police team is present at the spot. A suicide note has been recovered, allegations of harassment has been made against a few people," Delhi Police said.

Further investigation into the matter is underway.

According to sources, Kapoor was facing severe financial difficulties and was heavily in debt. He had divorced his wife and even his children live separately.

Notably in 2015, Salil Kapoor was arrested from Uttarakhand by the Economic Offences Wing (EOW) of the Delhi Police in two cases of cheating involving Rs 9 crore.

The first case involved a man, Satinder Nath Maira, who alleged that he had given Rs 13 crore to Salil Kapoor's family friend Prashant Kapoor for investing it.