KRBL Share Price Drops 13% Amid Corporate Governance Concerns | Stock Market Today

Market Performance

KRBL share price saw a sharp correction in early trade on Monday, September 15. The small-cap agri stock slipped nearly 13%, touching levels not seen in the past two months.

On the BSE, KRBL shares slipped to an intraday low of ₹387.05, sharply lower than the previous close of ₹444.10 on Friday. The steep drop quickly caught market attention as investors looked for answers behind the fall.

The Trigger: Independent Director Resigns

The company informed the exchanges that Anil Kumar Chaudhary, Independent Director, resigned from his post effective September 8, 2025.

In his resignation letter, Chaudhary raised concerns about the functioning of the board and pointed towards lapses in corporate governance practices.

He stated that proper oversight and transparency were missing, which made it difficult to safeguard stakeholder interests.

Key Allegations Highlighted

In his note, Chaudhary listed multiple red flags that led to his decision. These include:

• Inconsistencies in recording minutes of Board and Committee meetings
• Withholding of critical information that affected decision-making
• Unjust write-off of certain export receivables without adequate deliberation
• Concerns on the usage of CSR funds
• Arbitrary distribution of variable pay and annual increments to related parties
• Significant changes in the company’s object clause without detailed discussions
• Undue interference by invitees in board and committee proceedings

According to him, these issues persisted despite attempts to address them through dialogue.

Company’s Position & Chaudhary’s Stand

Chaudhary expressed that he had consistently raised these matters, expecting corrective steps. However, in his view, dissent was often sidelined rather than discussed.

He noted that staying on the board under such circumstances would compromise his professional ethics and the principles of corporate governance.

Summary

• KRBL share price tumbled 12.8% to ₹387.05 on September 15.
• The fall came after the resignation of Independent Director Anil Kumar Chaudhary.
• The resignation letter pointed to corporate governance lapses including weak oversight, lack of transparency, and questionable board practices.

The development has not only rattled KRBL’s stock price but also sparked wider discussion around governance standards in India’s mid and small-cap listed companies.