KRBL Ltd., India’s leading basmati rice company, has announced that its Board and Independent Directors have decided to initiate a third-party review of observations raised by Independent Director Mr. Anil Kumar Chaudhary, who recently tendered his resignation. The move comes as part of the company’s commitment to good corporate governance and transparency.
The development follows KRBL’s disclosure to the stock exchanges on September 13, 2025, regarding the resignation of Mr. Chaudhary under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Along with his resignation, Mr. Chaudhary had also provided detailed reasons and confirmed that there were no other material concerns beyond those stated.
To address the matter, separate meetings of the Independent Directors and the Board were convened at short notice on September 15, 2025. During these meetings, the observations were discussed thoroughly. The Board noted that KRBL already has systems and processes in place to ensure that any financial or compliance-related matters are highlighted and disclosed in line with SEBI requirements.
As part of the follow-up actions, KRBL’s Board and Independent Directors have agreed to:
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Appoint a reputed independent third-party firm within 30 days to review the observations in detail and present a report to the Board Committees.
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Have the concerned Board Committees deliberate on the report relevant to their areas and provide recommendations to the Board.
The company reiterated its commitment to conducting business with integrity and transparency and assured that all further updates will be shared with the stock exchanges.
