Avantel Limited conducted its 35th Annual General Meeting (AGM) on Monday, June 23, 2025, through Video Conferencing (VC)/Other Audio-Visual Means (OAVM).
- The meeting commenced at 11:00 A.M. (IST) and concluded at 12:40 P.M. (IST), with 150 members in attendance.
- All resolutions proposed in the notice were passed with the requisite majority, following remote e-voting and e-voting during the AGM.
- Key resolutions approved include:
- Adoption of the Audited Standalone and Consolidated Financial Statements for the Financial Year ended March 31, 2025.
- Declaration of a final dividend of Re.0.20/- per Equity Share of face value of ₹2/- each for the Financial Year ended March 31, 2025.
- Re-appointment of Mr. Abburi Siddhartha Sagar as a director.
- Re-appointment of Dr. Abburi Vidyasagar as Managing Director.
- Re-appointment of Smt. Abburi Sarada as Whole-Time Director.
- Appointment of Mrs. Mini Ipe as an Independent Director.
- Approval of the 'Avantel Employees Stock Option Plan 2025' and its extension to employees of subsidiary company(ies).
- Approval for granting Employee Stock Options (ESOPs) exceeding 1% of the issued share capital.
- Increase in the Company's borrowing limits under Section 180(1)(c) of the Companies Act, 2013.
- Creation of charges on movable and immovable properties of the Company in respect to borrowings under Section 180(1)(a) of the Companies Act, 2013.
- Appointment of M/s. P.S Rao & Associates as Secretarial Auditors for a term of up to 5 consecutive years.
- Ratification of the remuneration payable to Cost Auditors for the financial year ending 2025-26.