Pritika Auto Industries Ltd.

Pritika Auto Industries was incorporated as Public Ltd Company on 11th April, 1980 under the Companies Act, 1956 and obtained Certificate for Commencement of Business on 25th April, 1980 from the Registrar of Companies, Mumbai, Maharashtra. The name of the company has been changed from Shivkrupa Machineries and Engineering Services to Pritika Auto Industries Limited w.e.f. 16th March, 2017. The main object of the company which are fully set out in its memorandum are, inter alia “To carry on the business as manufacturers, buyers, sellers, assembling or distributing processors, founders, forgers, converters, fabricators, assemblers, importers, exporters, agents, buyers, and sellers of all types of metal, alloys, castings, automobile parts, machine tools, tractor parts, all types of machinery, plant equipment, component, spares, tools, engineering goods and accessories including zigs and fixtures, bolts and nuts, screws of any size and design for motor vehicles, or components parts thereof, chassis motors, buses lorries, omnibuses, engines, locomotives; scooters, tracks, tractors and other vehicle and component or motor vehicle parts, Tools, implements, spare parts, accessories, materials and allied products of automobiles industry for use as original equipment or otherwise and processing, assembling, jobbing, fabricating, manufacturing and marketing and dealers of automobile accessories and spares, automotive parts connect therewith.'

The company was promoted by Shri G. R. Agrawal and his associates. Shri Agrawal is leading industrialist in the central area region. The management of the company rest with the Board of Directors compost of industrials and technically qualified professionals. The Board of Directors pursuant to Share Sale & Subscription Agreement dated 25th January, 2017 entered into with the members of Pritika Autocast Ltd. and Nibber Castings Pvt. Ltd.(selling companies) and after getting approval of shareholders and other regulatory authorities allotted and issued equity shares on preferential allotment to the members of Selling Companies ( including Pritika Industries Ltd., Mr. Raminder Singh Nibber and Mr. Harpreet Singh Nibber, the Acquirers) and Other non-promoter -public category persons. Mandatory Offer under Regulation 3(1) and (4) of the Takeover Regulations was made by M/s Pritika Industries Ltd., Raminder Singh Nibber and Harpreet Singh Nibber, the Acquirers and Rishi Mangat & Gurkaran Singh Nibber, PACs for acquisition of 36,93,820 fully paid equity shares of the company representing 27.28% of  Diluted Share and Voting Capital of the company. After successful completion of Open Offer, the Board of Directors was reconstituted by resignation of existing directors and appointment of Raminder Singh Nibber, Harpreet Singh Nibber and Neeraj Bajaj on the Board. Raminder Singh Nibber and Harpreet Singh Nibber are promoter of Pritika Group of industries.

Business of the company

The Company has been currently engaged in the business of trading of machineries, equipments, tools and various industrial products. The Target Company also provides engineering and allied services to its clients.