Appointment of Statutory Auditor of the Company
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Avance Technologies Ltd's Board of Directors has approved the appointment of M/s. A. Raghavendra Rao & Associates as the new Statutory Auditor, effective May 20, 2026. This appointment fills a casual vacancy created by the resignation of the previous auditor, M/s. Rishi Sekhri & Associates. The appointment is subject to shareholder approval at the upcoming general meeting. The new auditor is a partnership firm established in 1986 with nearly 40 years of professional experience, serving clients across sectors including manufacturing, banking, IT, healthcare, and infrastructure.
The mid-term resignation of the previous auditor may raise concerns about audit continuity and governance standards, though the appointment of an experienced replacement could provide stability. Shareholders should expect this item to be ratified at the next general meeting.