Paramount Speciality Forgings Limited Appoints Satish Madhav Shenoy as Additional Non-Executive Independent Director
Paramount Speciality Forgings Limited announced the appointment of Mr. Satish Madhav Shenoy as an Additional and Non-Executive Independent Director on its Board, effective July 11, 2026. The decision was made by the Company's Board of Directors and its Nomination and Remuneration Committee.The board approved the appointment for a term of five years, subject to subsequent approval from the shareholders of the company.
Mr. Satish Madhav Shenoy holds advanced qualifications including a Graduate in Commerce, Chartered Accountant, Cost Accountant, and Company Secretary. He brings extensive experience exceeding 40 years in Internal Audit, Risk Management, Forensic & Ethics functions across various sectors. His professional background includes roles at PSUs such as Hindustan Petroleum and private enterprises including Onida, Lupin, Reliance Retail, L&T, and the Aditya Birla Group. Mr. Shenoy also worked with the Government of India (Ministry of Petroleum) on deputation with the Oil Coordination Committee.
The appointment adheres to internal guidelines regarding relationships among directors. The company confirmed that Mr. Satish Madhav Shenoy is not related to any of the existing directors. Furthermore, he has been verified and affirmed as not being debarred from holding the office of a director by virtue of any SEBI order or any such authority.
Key details regarding the appointment are summarized below:
| Detail | Information |
|---|---|
| Director's Name | Mr. Satish Madhav Shenoy (DIN: 00230711) |
| Role | Additional Director / Non-Executive Independent Director |
| Date of Appointment | July 11, 2026 |
| Term of Tenure | Five years |
| Qualifications | Graduate in Commerce, Chartered Accountant, Cost Accountant, Company Secretary |
| Experience Highlights | Over 40+ years in Internal Audit and Risk Management across PSUs and private companies. |
PSFL Stock Price Movement
Paramount Speciality Forgings Limited shares edged higher on Friday, closing at ₹31.90, having gained 1.59%. The stock traded within a tight intraday range of ₹31.80 to ₹31.90, with the reported volume reaching 4,000 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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