Avance Technologies Limited

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A V A N C E

Management Team

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Management Team

Board of Directors

Mr. Santosh Hambare

Managing Director & Chief Financial Officer

Mr. Latesh Poojary

Non-Executive - Non Independent Director

Mr. Vasant Bhoir

Non-Executive - Non-Independent Director

Mr. Deepak Mane

Non-Executive - Non-Independent Director

Mr. Akshay Nawale

Non-Executive - Independent Director

Mrs. Shakila Makandar

Non-Executive - Independent Director

Mr. Sanjay Devlekar

Non-Executive - Independent Director

Mr. Dipak Sambhaji Gaikwad

Non-Executive - Independent Director

Mrs. Sneha Shrivastava

Company Secretary & Compliance Officer

Mr. Santosh Hambare

Chief Financial Officer

Audit Committee

Mr. Akshay Nawale

Chairperson

Mrs. Shakila Makandar

Member

Mr. Vasant Bhoir

Member

Nomination and Remuneration Committee

Mr. Akshay Nawale

Chairperson

Mrs. Shakila Makandar

Member

Mr. Vasant Bhoir

Member

Stakeholders Relationship Committee

Mr. Akshay Nawale

Chairperson

Mrs. Shakila Makandar

Member

Mr. Vasant Bhoir

Member

Risk Management Committee

Mr. Akshay Nawale

Chairperson

Mrs. Shakila Makandar

Member

Mr. Vasant Bhoir

Member

Grievance Redressal officer and Presiding Officer for determining Materiality of an event or Information

Name: Mrs. Sneha Shrivastava

Designation: Company Secretary and Compliance Officer

Contact Number: +91 8655865985

Email Address: info@avance.in

Details of Key Managerial Personnel

Mrs. Sneha Shrivastava

Designation: Compliance Officer

Contact Number: +91 8655865985

Email Address: info@avance.in

Mr. Santosh Hambare

Designation: Chief Financial Officer

Contact Number: +91 8655865985

Email Address: info@avance.in

Contact Details of the Designated Officials

Name: Mrs. Sneha Shrivastava

Designation: Company Secretary and Compliance Officer

Contact Number: +91 8655865985

Email Address: info@avance.in

Terms of Reference

The Audit Committee assists the Board of Directors in overseeing the integrity of the Company's financial reporting, effectiveness of internal control systems, audit processes, and compliance with applicable legal and regulatory requirements. The Committee comprises a minimum of three directors, with at least two-thirds being Independent Directors, and is chaired by an Independent Director possessing financial expertise.

The Committee reviews quarterly and annual financial statements, monitors internal and statutory audits, evaluates risk management and internal control systems, and approves related party transactions. It also oversees the vigil mechanism, ensures regulatory compliance, and has the authority to seek information, obtain professional advice, and investigate matters within its scope. The Committee meets periodically, reports its recommendations to the Board, and undergoes regular performance evaluation.

Composition of Audit Committee

Name of Member	Category	Designation
Mr. Akshay Nawale	Non-Executive - Independent	Chairman
Mrs. Shakila Makandar	Non-Executive - Independent	Member
Mr. Vasant Bhoir	Non-Executive	Member

Terms of Reference

The Nomination and Remuneration Committee (“Committee”) assists the Board in identifying qualified individuals for appointment as Directors and Senior Management, and in formulating and implementing policies relating to remuneration, performance evaluation, and succession planning. The Committee comprises a majority of Independent Directors and is chaired by an Independent Director.

The Committee is responsible for recommending appointments and removals of Directors and Key Managerial Personnel, evaluating their performance, and ensuring an appropriate balance of skills, experience, and diversity on the Board. It formulates and reviews the remuneration policy to ensure that compensation is fair, reasonable, and aligned with performance and industry standards. The Committee also oversees succession planning and ensures compliance with applicable laws and governance standards.

Composition of Audit Committee

Name of Member	Category	Designation
Mr. Akshay Nawale	Non-Executive - Independent	Chairman
Mrs. Shakila Makandar	Non-Executive - Independent	Member
Mr. Vasant Bhoir	Non-Executive	Member

Terms of Reference

The Stakeholders Relationship Committee (“Committee”) assists the Board in addressing and resolving the grievances of shareholders and other stakeholders, and in ensuring effective investor relations and protection of stakeholder interests. The Committee is chaired by a Non-Executive Director and comprises such members as required under applicable laws and regulations.

The Committee oversees redressal of investor complaints relating to transfer/transmission of shares, non-receipt of dividends, annual reports, and other securities-related matters. It monitors the performance of the Registrar and Transfer Agent, reviews measures for improving investor services, and ensures timely and effective communication with stakeholders. The Committee also ensures compliance with applicable regulatory requirements and periodically reports its status and actions to the Board.

Composition of Audit Committee

Name of Member	Category	Designation
Mr. Akshay Nawale	Non-Executive - Independent	Chairman
Mrs. Shakila Makandar	Non-Executive - Independent	Member
Mr. Vasant Bhoir	Non-Executive	Member

Terms of Reference

The Risk Management Committee (“Committee”) assists the Board in overseeing the Company’s risk management framework, including identification, assessment, mitigation, and monitoring of key business risks. The Committee comprises members of the Board and senior management, with a majority of directors, and is chaired by a member of the Board

The Committee is responsible for formulating and reviewing the risk management policy, evaluating enterprise-wide risks (including strategic, operational, financial, and compliance risks), and ensuring the effectiveness of internal controls and mitigation measures. It monitors implementation of risk management practices, reviews periodic risk reports, and ensures that appropriate systems are in place to manage emerging risks. The Committee reports its observations and recommendations to the Board and ensures compliance with applicable regulatory requirements.

Composition of Audit Committee

Name of Member	Category	Designation
Mr. Akshay Nawale	Non-Executive - Independent	Chairman
Mrs. Shakila Makandar	Non-Executive - Independent	Member
Mr. Vasant Bhoir	Non-Executive	Member