Avantel Limited submitted a regulatory disclosure to BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023.

The disclosure concerns resolutions approved by members at the 36th Annual General Meeting held on Wednesday, June 24, 2026.

Key Approvals:

1. Re-appointment of Statutory Auditors

  • Members re-appointed M/s. Grandhy & Co., Chartered Accountants (Firm Registration No. 001007S) as statutory auditors
  • This constitutes a second term of five consecutive years
  • Term period: from conclusion of 36th AGM until conclusion of 41st AGM for Financial Year 2030-31
  • The firm is a Peer Reviewed Firm established in 1976 with over five decades of experience
  • Empanelled with regulatory authorities including RBI, CAG, and NABARD
  • Offices located in Visakhapatnam, Hyderabad, Vijayawada, and Anantapur
  • Extensive experience in statutory audits, internal audits, bank audits, and advisory services across diverse sectors
  • Not debarred from acting as statutory auditor by SEBI or any other authority

2. Appointment of Dr. Tamilmani Kandasamy as Independent Director

  • DIN: 07617444
  • Initially appointed as Additional Director (Non-Executive, Independent) by Board on April 26, 2026
  • Shareholders approved appointment as Independent Director at 36th AGM
  • Term: five consecutive years from April 26, 2026 to April 25, 2031
  • Not liable to retire by rotation
  • Age: 73 years
  • Distinguished aerospace professional with over four decades of experience in defence research and development
  • Former Director General (Aeronautics) at Defence Research and Development Organisation (DRDO)
  • Played key role in advancing India's indigenous aerospace and defence capabilities
  • Led major aerospace programs including LCA Tejas, ALH and AEW systems
  • Held leadership positions at CABS and CEMILAC, DRDO
  • Ph.D. in Technology Dynamics and National Security
  • Recipient of DRDO Technology Leadership Award and National Aeronautical Prize
  • Not related to any Director or Key Managerial Personnel of the Company
  • Holds nil shares in the company
  • Not debarred from holding office of Director by SEBI or any authority

3. Appointment of Mr. Lakshminarasimha Acharyulu Muktevi as Independent Director

  • DIN: 02118771
  • Initially appointed as Additional Director (Non-Executive, Independent) by Board on April 26, 2026
  • Shareholders approved appointment as Independent Director at 36th AGM
  • Term: five consecutive years from April 26, 2026 to April 25, 2031
  • Not liable to retire by rotation
  • Age: 68 years
  • Seasoned corporate management professional with over four decades of experience
  • Expertise in infrastructure, manufacturing, financial services and semiconductor technology sectors
  • Educational qualifications: M.Tech in Power Systems (JNTU), Master of Financial Management (Jamnalal Bajaj Institute), Associate Member of ICMAI
  • Former CEO & Executive Director of Karaikal Port Private Limited
  • Former Managing Director of Sentini Sanitary Private Limited and Qualcore Logic Limited
  • Former Executive Director at Conexant Systems India Private Limited
  • Previous roles at Crompton Greaves Limited, SICOM Limited, and Godavari Fertilizers and Chemicals Limited
  • Currently serves on boards of various companies
  • Not related to any Director or Key Managerial Personnel of the Company
  • Holds nil shares in the company
  • Not debarred from holding office of Director by SEBI or any authority

Financial Impact:

No direct financial impact quantified in the disclosure. The appointments represent governance changes without immediate financial implications.