Mumbai, Sept. 15 -- Nearly a year after joining KRBL Ltd as an independent director, Anil Chaudhary has stepped down from the board of the renowned India Gate basmati brand owner, alleging corporate governance issues.

In his resignation letter, the former Steel Authority of India Ltd (Sail) chairman flagged several governance concerns at the country's largest exporter of basmati rice, including inconsistencies in recording minutes of the company's board meetings, instances of information being withheld from the board, undue interference by invitees during board meetings, and concerns over the usage of CSR funds.

Following the news, the company's shares plunged by almost 10% to close at Rs.401.45 on the National Stock Exchange on Monday ...