Coforge chairman resigns after audit finds concerns

Coforge chairman resigns after audit finds concerns in board evaluation

SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 IT services firm Coforge said Wednesday Chairman Om Prakash Bhatt resigned after an internal ​audit into a board evaluation found concerns, ​including that material information about his own performance ‌had not been fully disclosed to the board. Bhatt, who previously served as chairman of India's largest lender, State Bank of India, was appointed chair of Coforge's board in 2024 with a term due to finish in April 2027. An audit into the board evaluation process and the resulting report, which were handled under Bhatt's guidance, identified concerns about how the report "had ‌been dealt with and presented to the board", the company said. The board raised its concerns with Bhatt and was evaluating his response when Bhatt tendered his resignation on Sept. 8. The company did not elaborate on the specific nature of the information about Bhatt's performance ​that had not been disclosed to the board. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24