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Coforge says OP Bhatt got lowest board rating
The Indian Express··11 Sept
Coforge Ltd said former chairman OP Bhatt got the lowest board evaluation rating, and that finding was not disclosed to the Nomination and Remuneration Committee or the board. An internal auditor said reports were shown without copies and missed findings. Bhatt resigned as chairman on September 9. He is a former State Bank of India chairman.
Prism
What It Means For You
- Shareholders get a governance disclosure on how board evaluation papers were handled before Bhatt’s exit.
- The company said evaluation issues are separate from financial statements, revenue and profitability.
- The filing names KPMG Assurance and Consulting Services LLP as internal auditor.
What's Happening
- Coforge said reports were available only to the NRC chair and board chairman and withheld from other directors on the chairman’s instruction.
- The firm said it operates across 33 countries as an AI-native engineering services company.
- The resignation email was dated September 8, with the company announcing the exit on September 9.
What The Exchange Filing Says
- Board evaluation is required annually under the Companies Act and SEBI listing rules, the company said.
- Q2 internal audit scope included Hire-to-Retire and accuracy of board reporting.
- Bhatt is a former State Bank of India chairman, the filing notes.
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