New Delhi: Coforge Chairman and Independent Director O P Bhatt has resigned with immediate effect after an internal audit raised concerns over the handling and presentation of a board evaluation report, including the non-disclosure of certain material information, the IT services company said on Wednesday. Coforge clarified that the board evaluation exercise conducted in March-April 2026 for the previous year did not relate to the company’s financial statements or financial matters. It also said the issue had no bearing on its operations or business performance and did not affect its near-, mid- or long-term guidance.
As part of its audit plan for the second quarter of FY26, the company’s internal auditor reviewed the process followed for the board evaluation exercise conducted under Bhatt’s guidance and the resulting Board Evaluation Report presented by him to the board. The review identified concerns over how the report had been dealt with and presented.
Coforge shares tank over 5 pc as Chairman Bhatt resigns New Delhi, Sep 9 (PTI) Shares of IT firm Coforge tumbled over 5 per cent on Wednesday after its Chairperson O P Bhatt resigned abruptly from the company after an internal audit raised concerns over the manner in which a 'board evaluation report' was handled. The stock tanked 5.24 per cent to end at Rs 1,846.90 on the BSE. During the day, it dropped 8.67 per cent to Rs 1,780.10.