Avantel Appoints Two Independent Directors, Reconstitutes Board Committees, Approves Auditors
Avantel appointed Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi as independent directors for five years. The company also reconstituted its board committees and appointed M/s. Grandhy & Co. as statutory auditors for a second five-year term. Cost and internal auditors were also appointed for FY27.
The appointment of new independent directors and the reconstitution of board committees are significant for corporate governance and strategic oversight. The reappointment of statutory auditors also provides continuity. These actions are important for the company's operational and strategic functioning.
The announcement details routine corporate governance actions such as director appointments, committee reconstitutions, and auditor appointments. These are standard procedures and do not inherently signal positive or negative performance or outlook for the company.
Avantel Limited announced that its Board of Directors, in a meeting held on April 26, 2026, approved key appointments and reconstitutions. Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi were appointed as Additional Directors (Non-Executive - Independent) for a term of five years, from April 26, 2026, to April 25, 2031.
Dr. Kandasamy, a distinguished aerospace professional with over four decades of experience in defence R&D, including leadership roles at DRDO, brings expertise in program leadership and indigenous defence capabilities. Mr. Muktevi, a seasoned corporate management professional with over four decades of experience across various industries like infrastructure, manufacturing, and financial services, offers expertise in corporate strategy and financial management.
The Board also approved the reconstitution of its key committees: Audit Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee, and Corporate Social Responsibility Committee. Furthermore, M/s. Grandhy & Co. have been appointed as the Statutory Auditors for a second term of five consecutive years, subject to member approval at the ensuing AGM. M/s. MPR & Associates have been appointed as Cost Auditors for the financial year ending March 31, 2027, and M/s. Ramesh & Co. as Internal Auditors for the same financial year.
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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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