Avance Technologies board of directors approved the reappointment of its statutory auditor and scheduled its 42nd annual general meeting for September 29, 2026. The company also approved shifting its registered office within Mumbai.

The board meeting held on September 2, 2026, at the company's registered office focused on governance and administrative matters. Key approvals included the reappointment of M/s. A. Raghavendra Rao & Associates as statutory auditor for a five-year term from FY27 to FY31, subject to shareholder approval.

Governance and Auditor Appointment

The board recommended the reappointment of Mr. Deepak Yallappa Mane as a non-executive, non-independent director. He retires by rotation under Section 152 of the Companies Act, 2013, and has offered himself for reappointment. His term is subject to shareholder approval at the upcoming AGM.

M/s. A. Raghavendra Rao & Associates, established in 1986, will serve as the statutory auditor if approved by shareholders. The firm holds Firm Registration No. 003324S and Peer Review Certificate No. 018363. The appointment covers five consecutive years starting from FY27.

AGM Details and Logistics

The 42nd AGM is scheduled for Tuesday, September 29, 2026, at 10:00 am at Event Banquet, Opp. Filmystan Studio, S.V. Road, Goregaon (West), Mumbai. The cut-off date for determining eligibility to attend and vote is Tuesday, September 22, 2026.

Remote e-voting will commence on Saturday, September 26, 2026, at 9:00 am and end on Monday, September 28, 2026, at 5:00 pm. M/s. Aarju Agrawal & Associates has been appointed as the scrutinizer for the remote e-voting process.

Registered Office Shift

The board approved moving the registered office from 404, Corporate Annexe, Sonawala Road, Goregaon (East), Mumbai, to 1502, Corporate Annexe, Sonawala Road, Goregaon (East), Mumbai. This change reflects an internal relocation within the same building complex.

Avance Technologies Limited ( avance technologies ) has secured shareholder approval for key governance appointments through a postal ballot process conducted in August 2026. The company disclosed the voting results on August 18, 2026, confirming that all three proposed resolutions—covering statutory audit, management leadership, and board composition—were passed with requisite majorities.

The postal ballot, initiated with a notice dated July 10, 2026, sought approval for ordinary and special resolutions under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and applicable provisions of the Companies Act, 2013. The record date for voting eligibility was June 26, 2026.

Voting Results Overview

The voting process was scrutinized by M/s. Siddhi Maheshwari & Associates, Practicing Company Secretaries. Votes were cast exclusively through remote e-voting facilitated by National Securities Depository Limited (NSDL), with no physical ballot forms received during the period between July 16 and August 14, 2026.

Out of 392,910 shareholders on the record date, approximately 448 members participated in the voting process across the resolutions. The promoter group and public institutional investors did not cast votes in this exercise; participation was driven entirely by public non-institutional shareholders.

Resolution Details

The three resolutions were approved as follows:

All resolutions were supported by over 97% of the votes polled, indicating strong shareholder consensus on the proposed governance changes.

What the Numbers Show

A notable pattern in the voting data is the complete absence of participation from the promoter group, which holds 13,500,000 shares, and public institutions holding 45,000 shares. Despite their significant shareholding, these groups cast zero votes. Consequently, the entire voting weight came from public non-institutional shareholders, who hold 1,968,372,430 shares but had a low participation rate of approximately 0.58% of outstanding shares. This suggests that while the active retail/institutional base strongly supports the board’s proposals, broader engagement among eligible shareholders remains limited.

Governance Implications

The appointment of M/s. A. Raghavendra Rao & Associates (FRN: 003324S) as statutory auditors ensures continuity in financial oversight. Meanwhile, the confirmation of Santosh Hambare as Managing Director and Dipak Gaikwad as Non-Executive Independent Director strengthens the company’s executive and independent oversight structures, respectively. Both directors were appointed without conflict of interest disclosures from the promoter group.

The results are available on the company’s website, fulfilling disclosure requirements under the Listing Regulations.