Paramount Speciality Forgings has strengthened its governance structure by appointing Mr. Satish Madhav Shenoy as an Additional Director and Non-Executive Independent Director. The appointment is effective July 11, 2026, for a term of five years, pending approval from the company's shareholders. This strategic move aims to bolster the board with extensive expertise in audit and risk management.

The decision was taken following the recommendation of the Nomination and Remuneration Committee and approved by the Board of Directors at their meeting held on July 11, 2026. The company confirmed that Mr. Shenoy is not debarred from holding the position of director by any order from SEBI or other authorities. This appointment complies with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Satish Madhav Shenoy is a Graduate in Commerce, Chartered Accountant, Cost Accountant, and Company Secretary. He brings over 40 years of experience in Internal Audit, Risk Management, and Forensic & Ethics functions. His professional background includes tenures with PSUs such as Hindustan Petroleum and private enterprises like Onida, Lupin, Reliance Retail, L&T, and the Aditya Birla Group. Additionally, he has served with the Government of India's Ministry of Petroleum.

The company affirmed that Mr. Shenoy is not related to any of the existing directors on the Board. The necessary disclosures regarding his appointment and qualifications were submitted to the National Stock Exchange of India Limited as per regulatory requirements.

Appointment Details

Paramount Speciality Forgings Limited confirmed that its promoters and persons acting in concert (PACs) have not created any encumbrance, directly or indirectly, on the equity shares held by them during the financial year ended March 31, 2026. This disclosure ensures that the shareholding structure remains free of pledges or charges, which is critical for maintaining governance standards and shareholder confidence. The declaration was submitted by Aliasgar Roshan Hararwala on behalf of all promoters and the promoter group.

The filing was made to the National Stock Exchange of India Limited on April 4, 2026, in compliance with Regulation 31(4) and 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These regulations mandate periodic disclosures regarding any encumbrance on promoter shares to ensure transparency in ownership and control. The document was also copied to the Audit Committee of the Board of Directors of the company.

The declaration encompasses a total of 41 entities and individuals associated with the company. The list includes eight individuals classified as promoters and 33 members classified as the promoter group. The list details specific names such as Abdulla Aliasgar Bhagat, Aliasgar Roshan Hararwala, and Zahid Mohamadi Hararwala under the promoter category, while the promoter group includes family members and related entities like Saeeda Roshan Hararwala and Arfana Aliasgar Hararwala.

Promoter and Promoter Group Details