Coforge Chairman O P Bhatt has resigned from the company's board with immediate effect, following concerns raised by an internal audit over the process used for the company's recent board evaluation, according to an exchange filing.
Coforge has designated Vivek Sharma, a Non-Executive Independent Director, as interim Chairperson until January 31, 2027. The company has also scheduled a board meeting for October 23 to consider and approve its September-quarter financial results.
Bhatt, who was also a Non-Executive Independent Director, tendered his resignation on September 8. The board accepted it with immediate effect, and he has ceased to be a member of all board committees. Coforge said there were no other material reasons for his resignation beyond the matters arising from the internal audit and subsequent board review.
The internal audit, conducted as part of the Q2FY26 internal audit plan, reviewed the process followed for the Board Evaluation Exercise and the resulting Board Evaluation Report (BER), which was prepared under Bhatt's guidance.
The audit identified concerns over how the report was handled and presented to the board, including the fact that certain material information relating to the BER and the performance evaluation of the chairman had not been fully disclosed when the report was presented.
Following the findings, the board raised its concerns with Bhatt and sought an explanation. Bhatt said he had acted in good faith during the evaluation process. However, he resigned before the board completed its consideration of his response or reached a final decision on the matter.
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