Intimation of Change in Directorate pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.
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Springform Technology's Board has redesignated Mr. Paramjeet Singh Chhabra as Managing Director for a 5-year term from 12th May 2025. He holds a B.Sc and MBA from Delhi University and brings over 48 years of experience in manufacturing and marketing of spring mattresses. The Board also appointed Mr. Rajiv Malik and Mr. Sanjay Kumar Garg as Additional Non-Executive Independent Directors for 5-year terms each from the same date. Mr. Malik is a Company Secretary and law graduate with 28.5 years of legal and secretarial experience, while Mr. Garg is a Chartered Accountant with over 30 years of finance experience. The company confirmed the new independent directors are not related to any existing directors and are not debarred by SEBI.
The restructuring brings a long-tenured industry insider to the Managing Director role and adds two experienced independent directors, which may strengthen board oversight and governance. For shareholders, this signals board renewal but is unlikely to cause any immediate price-moving impact given the small-cap nature of the company.