KRBL shares dips ~13% as Independent Director resigns

15 Sep 2025 , 12:34 PM

KRBL Ltd shares nosedived as much as 12.8% to an intraday low of ₹387.10 on the NSE on Monday, September 15. This decline in shares came after independent director Anil Kumar Chaudhary resigned from the company’s board owing to concerns over corporate governance.

At around 12.03 PM, KRBL was trading 10.30% lower at ₹398.35, against the previous close of ₹444.10 on NSE. The counter touched an intraday high and low of ₹413.90, and ₹387.10, respectively.

Chaudhary mentioned in his letter addressed to the board that the company dynamics were not in line with effective governance principles and independent oversight. Hence, hindering stakeholder interests.

He highlighted various issues such as inconsistencies in minutes of meetings records, incomplete/no disclosure of information affecting decision-making, and the write-off of certain export receivables without prior and appropriate discussion.

He also questioned the utilisation of CSR funds by the company. He further claimed dissatisfaction over the distribution of variable pay and increments to those holding place of profits in the company. Also, significant changes to the company’s Object Clause without any detailed description. Invitees’ undue interference in the board and meetings.

KRBL said that Chaudhary resigned on September 9, 2025, but it only disclosed details of his letter on Sunday.

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