knockout.js is two way binding library. it implements an observable model, and binding to html elements to implement the MVVM pattern
kendo grid is jquery component with builtin ajax support and its own observable model to implement the MVVM pattern.
not sure why you want both. but the easiest to write a subscription from the observable model of record, that updates shadow model. that is if you decide the knockout model is the true source, then subscribe to its changes, and update the kendo model.
you could also probably write a custom transport for the kendo grid that accessed the knockout model directly.