Intimation of change in management pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015.
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Springform Technology Ltd has announced key changes to its board, effective May 12, 2025. Mr. Paramjeet Singh Chhabra (DIN: 00153183) has been redesignated as Managing Director for a 5-year term; he holds over 48 years of experience in manufacturing and marketing of Spring Mattresses and holds an MBA from Delhi University. Additionally, Mr. Rajiv Malik (DIN: 01725377), a Company Secretary and legal professional with 28.5+ years of experience, has been appointed as an Independent Director for 5 years. Mr. Sanjay Kumar Garg (DIN: 01277310), a Chartered Accountant with 30+ years of finance experience, has also been appointed as an Independent Director for 5 years. None of the newly appointed directors are related to existing directors or barred by SEBI.
The appointment of a full-time Managing Director with deep industry experience could bring operational focus, while the addition of two qualified independent directors strengthens board governance and oversight. For shareholders, this signals management continuity in the core mattress business combined with enhanced independent scrutiny at the board level.