Avantel Limited Board Approves Appointments of Independent Directors and Auditing Firms

Avantel Limited Board Approves Appointments of Independent Directors and Auditing Firms​

Avantel Limited announced several key appointments and the reconstitution of its Board committees following its Board of Directors meeting held on April 26, 2026. The company also approved the appointment of its Statutory, Cost, and Internal Auditors for various terms.

New Director Appointments​

The Board approved the appointment of two individuals as Additional Directors (Non-Executive - Independent) for a five-year term, effective from April 26, 2026, to April 25, 2031.

The appointed directors and their associated details are as follows:


Profiles:

• Dr. Tamilmani Kandasamy: A distinguished aerospace professional with over four decades of experience in defence research and development, airworthiness certification, and strategic program leadership. He previously served as Director General (Aeronautics) at the Defence Research and Development Organisation (DRDO), Ministry of Defence, Government of India. During his tenure, Dr. Tamilmani led major aerospace programs exceeding ₹10,000 crore and played a pivotal role in advancing India's indigenous defence capabilities. He holds a Ph.D. in Technology Dynamics and National Security.
• Mr. Lakshminarasimha Acharyulu Muktevi: A seasoned corporate management professional with over four decades of experience across industries, including infrastructure, manufacturing, financial services, and semiconductor technology. He brings strong expertise in corporate strategy, financial management, project execution, and corporate governance.

Reconstitution of Board Committees​

The Board also approved the reconstitution of four key committees, detailing the membership structure for the upcoming term:

* Audit Committee:
* Mr. Vyasabhattu Ramchander (Chairman, Independent Director)
* Mr. Myneni Narayana Rao (Member, Independent Director)
* Dr. Ajit Tavanappa Kalghatgi (Member, Independent Director)
* Mr. MLN Acharyulu (Member, Independent Director)
* Nomination & Remuneration Committee:
* Mr. Myneni Narayana Rao (Chairman, Independent Director)
* Mr. Vyasabhattu Ramchander (Member, Independent Director)
* Dr. Ajit Tavanappa Kalghatgi (Member, Independent Director)
* Smt. Harita Vasireddi (Member, Independent Director)
* Dr. K Tamilmani (Member, Independent Director)
* Stakeholders Relationship Committee:
* Mr. Myneni Narayana Rao (Chairman, Independent Director)
* Dr. Abburi Vidyasagar (Member, Executive Director)
* Smt. Harita Vasireddi (Member, Independent Director)
* Mr. MLN Acharyulu (Member, Independent Director)
* Corporate Social Responsibility Committee:
* Mr. Ramchander Vyasabhattu (Chairman, Independent Director)
* Smt. Abburi Sarada (Member, Executive Director)
* Dr. Ajit T. Kalghatgi (Member, Independent Director)
* Dr. K Tamilmani (Member, Independent Director)

Appointment of Statutory and Internal Auditors​

The Board of Directors also approved the appointments of three professional firms for various auditing roles:

1. Statutory Auditor
M/s. Grandhy & Co., Chartered Accountants (Firm Registration No. 001007S) was approved as the Statutory Auditor for a second term of five consecutive years, commencing from the conclusion of the 36th AGM till the conclusion of the 41st AGM, subject to the approval of the shareholders.

M/s. Grandhy & Co., established in 1976, has extensive experience in audit, assurance, and advisory services across sectors including public sector undertakings, infrastructure, banking, and power.

2. Cost Auditor
M/s. MPR & Associates, Cost Accountants (Firm Registration No. 000413) was appointed as the Cost Auditor for the financial year ending March 31, 2027.
M/s. MPR & Associates is a professional firm specializing in cost audit, cost compliance, and cost management services.

3. Internal Auditor
M/s. Ramesh & Co., Chartered Accountants (Firm Registration No. 002979S) was appointed as the Internal Auditor for the financial year ending March 31, 2027.
M/s. Ramesh & Co. is an experienced firm engaged in internal audit, risk assessment, and advisory services across various industries.

AVANTEL Stock Price Movement​

On Friday, Avantel Limited shares slipped by 3.75% to settle at ₹154.16, marking a significant dip from its previous close. The stock saw considerable activity throughout the session, with 1.79 million shares traded.