Is this a grammatically sound sentence?
Solution 1:
There are several combined but logically sequential thoughts in the sentence. I find it clear and unambiguous so suggest it is acceptable.
I add my annotations {so}:
Seeing him defenceless
{Krishna sees that Arjuna is defenceless},
recognising that this is the only moment when Karna could be killed
{Krishna sees that this is the only opportunity for Arjuna to kill Karna},
which {opportunity},
if {it, the opportunity, is not taken } allowed to pass, would mean that Arjuna would lose the duel
{the loss being conditional on missing the only opportunity to win},
{Consequently and finally, in view of all the foregoing points}
Krishna urges Arjuna to shoot an arrow at Karna
{so that Arjuna may win}.