Coforge Chairman OP Bhatt Resigns Over Board Evaluation Disclosure Gaps
Coforge Chairman OP Bhatt resigns after an internal audit flags gaps in disclosing his board evaluation report.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Coforge said its non-executive Chairman OP Bhatt has resigned with immediate effect, following concerns raised by the company’s internal auditor over how the board evaluation report was handled and presented to the board by him.
An internal audit review, conducted as part of the company’s Q2 FY26 plan, found that certain material information concerning the report and Bhatt’s own performance had not been fully disclosed to the board. Following the review, the board sought an explanation from Bhatt, who maintained he had acted in good faith before tendering his resignation.
“I believe that continuing on the board while there remains a disagreement considering the characteristics of my good faith actions in the board evaluation process would not be conducive to the effective functioning of the board,” Bhatt said in his resignation letter, adding that he had always discharged his duties independently and in the company’s best interests.
The board accepted his resignation with immediate effect, and he has ceased to be a member of all board committees. Vivek Sharma has been appointed interim Chairperson until January 31, 2027.
Bhatt, a former Chairman of the State Bank of India, was appointed Chairman of Coforge’s board in 2024, with a term due to run until April 2027. Coforge shares fell 9 per cent in Wednesday’s trade following the announcement.
Coforge said its non-executive Chairman OP Bhatt has resigned with immediate effect, following concerns raised by the company’s internal auditor over how the board evaluation report was handled and presented to the board by him.
An internal audit review, conducted as part of the company’s Q2 FY26 plan, found that certain material information concerning the report and Bhatt’s own performance had not been fully disclosed to the board. Following the review, the board sought an explanation from Bhatt, who maintained he had acted in good faith before tendering his resignation.
“I believe that continuing on the board while there remains a disagreement considering the characteristics of my good faith actions in the board evaluation process would not be conducive to the effective functioning of the board,” Bhatt said in his resignation letter, adding that he had always discharged his duties independently and in the company’s best interests.
The board accepted his resignation with immediate effect, and he has ceased to be a member of all board committees. Vivek Sharma has been appointed interim Chairperson until January 31, 2027.
Bhatt, a former Chairman of the State Bank of India, was appointed Chairman of Coforge’s board in 2024, with a term due to run until April 2027. Coforge shares fell 9 per cent in Wednesday’s trade following the announcement.
