Mid-tier IT services company Coforge, on September 9, said O P Bhatt has resigned as Non-Executive Independent Director and Chairman of the Board with immediate effect, following concerns raised by an internal audit over the company’s recent board evaluation process.
In a regulatory filing dated, Coforge said its internal auditor, as part of the Q2 FY26 internal audit plan, reviewed the processes followed for the Board Evaluation Exercise and the resulting Board Evaluation Report (BER). The exercise was conducted under Bhatt’s guidance.
The audit identified gaps in the process and disclosure of information related to the board evaluation, including information concerning the performance evaluation of the chairman.
According to the filing, certain material information contained in or relating to the BER was not fully disclosed to the board when the report was presented.
Following the internal auditor’s findings, the board raised concerns with Bhatt and sought his explanation.