KRBL to commission third-party review after governance allegations; shares slide nearly 10%
Published on 15/09/2025 03:53 PM
KRBL News Today: India’s largest basmati rice exporter KRBL Ltd. said it will appoint an independent, reputed third-party firm to review governance issues raised by an independent director, as the company seeks to reassure investors after a sharp sell-off in its stock.
In an exchange filing on Monday, KRBL said the external review will be completed within 30 days and its findings presented to the respective board committees. “Taking cognizance of the observations and as a matter of good corporate governance, separate meetings of Independent Directors and the Board were convened at short notice today,” the company said. Each committee will deliberate on the report covering its area and submit recommendations to the board.
The announcement followed a volatile morning session in which KRBL shares dropped as much as 10 per cent to Rs 402.70 on the NSE, their steepest single-day decline in more than three years. The stock had been under pressure since the resignation of Anil Kumar Chaudhary, an independent director, whose detailed letter — disclosed on September 14 — alleged that dissent on the board was “suppressed or sidelined” and raised concerns over receivable write-offs, CSR spending, and the recording of board minutes.
Add Zee Business as a Preferred Source
KRBL shares closed at a low of 9.48% to Rs 402.
Chaudhary resigned with immediate effect on September 8, and the company informed the exchanges a day later.
In its latest statement, KRBL said it already has “systems and processes commensurate with the size of the company’s operations” to ensure that any financial impact or non-compliance is escalated to the board and disclosed to stock exchanges in line with applicable laws.
Even after Monday’s fall, KRBL shares remain up over 32 per cent in 2025, buoyed by strong basmati rice export demand.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
Senior Sub-editor at Zee Business English
shweta.shukla@India.com
Shweta Birendra Shukla is a journalist covering the stock market and corporate affairs, with prior stints at Business ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.