In this industrial induction motor speed and torque controlled drive system, the closed loop control usually requires the measurement of speed or position of amotor. However a sensorless drive of an induction motor has several advantages ; low cost and mechanical simplicity. Thus this paper investigates a field oriented control method without speed and flux sensors. The proposed control strategy is based on the Model Reference Adaptive System(MRAS) using a new flux estimator which replaces integrators with two lag circuits as the reference model. This algorithm may overcome several shortages of conventional MRAS such as integrator problems, small EMF at low speed. The simulation and experimental results indicate good speed responses.