Avantel Limited re-appointed M/s. Grandhy & Co., Chartered Accountants, as its Statutory Auditors for a second term of five years at its 36th Annual General Meeting held on June 24, 2026. The appointment is effective from the conclusion of the 36th AGM until the conclusion of the 41st AGM to be held for the financial year 2030-31. Shareholders also approved the appointment of two new Independent Directors, Dr. Tamilmani Kandasamy and Mr. Lakshminarasimha Acharyulu Muktevi, for a term of five years commencing from April 26, 2026, to April 25, 2031. The meeting was conducted in compliance with SEBI (LODR) Regulations, 2015 and relevant circulars.

M/s. Grandhy & Co. (Firm Registration No. 001007S), a Peer Reviewed Firm established in 1976, brings over five decades of experience in audit and assurance services. The firm is empanelled with regulatory authorities such as RBI, CAG, and NABARD. The re-appointment ensures continuity in the company's financial oversight and statutory audit processes.

Dr. Tamilmani Kandasamy (DIN: 07617444) is a distinguished aerospace professional with over four decades of experience in defence research and development. He formerly served as Director General (Aeronautics) at DRDO and played a key role in the LCA Tejas and ALH programmes. He holds a Ph.D. in Technology Dynamics and National Security and is a recipient of the DRDO Technology Leadership Award.

Mr. Lakshminarasimha Acharyulu Muktevi (DIN: 02118771) is a seasoned corporate management professional with over 40 years of experience across infrastructure, manufacturing, and financial services. He has held senior leadership positions at Karaikal Port Private Limited, Sentini Sanitary Private Limited, and Conexant Systems India Private Limited. He holds a Master of Technology in Power Systems and a Master of Financial Management.

Key Appointments at the 36th AGM

Independent Director Myneni Narayana Rao ceased to be a director of avantel effective the close of business hours on June 24, 2026, following the completion of his second consecutive term. The cessation was intimated to the stock exchanges via a regulatory filing submitted on the same date.

The Board of Directors of Avantel Limited recorded its appreciation for the guidance and contributions made by Mr. Rao during his tenure. The company clarified that the cessation was solely due to the completion of his term and not due to resignation or any other reason.

The disclosure was made in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing included specific details regarding the director's cessation as required by SEBI Circular No. SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023.

Details of Director Cessation