KRBL Shares In Focus: Independent Director Resigns Over Governance Concerns

Anil Kumar Chaudhary, one of the independent directors of KRBL Ltd. turned in his resignation citing corporate governance issues, according to an exchange filing on Sunday.

"After careful thought and consideration, I have concluded that I am no longer able to meaningfully contribute to the Board's functioning in the manner envisioned under the regulatory framework for independent directors. I believe that effective governance and truly independent oversight are essential ingredients for safeguarding stakeholder interests and I find the prevailing dynamics of the Board to be inconsistent with these principles", Chaudhary stated in his resignation letter.

As per the letter, reasons for his resignation include —

• Inconsistencies in the recording of minutes of the Board and Committee Meetings,

• Instances of information being withheld, impacting informed decision-making,

• Unjust write-off of certain export receivables without adequate deliberation

• Concerns regarding the use of CSR funds

• Arbitrary distribution of variable pay and annual increments to persons holding office or place of profit

• Significant changes to the Object Clause undertaken without comprehensive discussion

• Undue interference by the invitees in the proceedings of the Board and committee meetings

He added that these issues have continued to exist despite his attempts at resolving them through constructive dialogue, posing professional and ethical dilemmas.

Furthermore, he also informed that he has brought up his concerns whenever appropriate to seek resolution and that, "In such an operating environment where dissent is suppressed or sidelined, remaining on the Board would compromise both my professional ethics and obligations as defined under Indian corporate governance codes."

The former independent director put down his resignation on Sept. 8, 2025, according to the exchange filing.

The shares of KRBL closed 0.44% up at Rs 355.97 on Friday.