Avantel Appoints Two Independent Directors, Reconstitutes Board Committees, and Appoints Auditors
Avantel Limited appointed Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi as Independent Directors for five years. The company also reconstituted its board committees. M/s. Grandhy & Co. were appointed Statutory Auditors for a second five-year term. M/s. MPR & Associates and M/s. Ramesh & Co. were appointed Cost and Internal Auditors, respectively, for FY27.
The appointment of experienced directors and the reappointment of auditors are significant for corporate governance and operational continuity. The reconstitution of committees also reflects ongoing governance processes. These actions have a medium-term impact on the company's strategic direction and regulatory compliance.
The announcement pertains to routine corporate governance actions like director appointments and auditor changes, which are necessary for the company's operations and do not inherently indicate a positive or negative shift in business performance.
Avantel Limited announced key management and governance changes following a Board of Directors meeting held on April 26, 2026. The company approved the appointment of Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi as Additional Directors (Non-Executive - Independent) for a five-year term, from April 26, 2026, to April 25, 2031, subject to shareholder approval. Dr. Kandasamy, a distinguished aerospace professional with over four decades of experience in defense R&D and program leadership, previously served as Director General (Aeronautics) at DRDO, overseeing programs exceeding ₹10,000 crore. Mr. Muktevi, a seasoned corporate management professional with over four decades of experience across various industries including infrastructure and financial services, brings expertise in corporate strategy and financial management.
In addition to these appointments, the Board also approved the reconstitution of its key committees: the Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee. The company further announced the appointment of M/s. Grandhy & Co., Chartered Accountants, as Statutory Auditors for a second five-year term, commencing from the conclusion of the 36th AGM until the conclusion of the 41st AGM, pending shareholder approval. M/s. MPR & Associates, Cost Accountants, have been appointed as Cost Auditors for the financial year ending March 31, 2027, and M/s. Ramesh & Co., Chartered Accountants, as Internal Auditors for the same period.
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Avantel Limited filed this with the NSE as a statutory disclosure, categorised under board changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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