Avantel Limited has informed the Exchange about General Updates
AVANTEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Avantel Limited's Board of Directors met on April 26, 2026, and approved several key governance changes. The company appointed two new Independent Directors: Dr. Tamilmani Kandasamy (73), a former Director General (Aeronautics) at DRDO who led aerospace programs exceeding ₹10,000 crore and contributed to LCA Tejas and ALH projects; and Mr. Lakshminarasimha Acharyulu Muktevi (68), a former CEO of Karaikal Port with four decades of experience in infrastructure, manufacturing, and financial services. Both appointments are for five years subject to shareholder approval at the ensuing AGM. The Board also reconstituted four committees (Audit, Nomination & Remuneration, Stakeholders Relationship, and CSR) with the new directors joining various committees. Additionally, M/s. Grandhy & Co. was appointed as Statutory Auditors for a second five-year term, while M/s. MPR & Associates and M/s. Ramesh & Co. were appointed as Cost and Internal Auditors respectively for FY 2026-27.
The appointment of two independent directors with defence, aerospace, and corporate governance expertise strengthens Avantel Limited's board quality and governance framework, which could positively influence investor confidence. The inclusion of Dr. Kandasamy, with his DRDO background, may also signal potential strategic opportunities in defence-related business for the company.