Overview
- O.P. Bhatt resigned from his role as Coforge chairman with immediate effect on Wednesday, September 9, 2026, stepping down while the board's review of audit findings was still under way.
- An internal audit carried out under Coforge's Q2 FY26 plan found process and disclosure gaps in the Board Evaluation Report, including that material information related to the chairman's performance was not fully presented to the board.
- The board had asked Bhatt for an explanation and he submitted a response, but it had not reached a final decision when Bhatt said he was leaving because continued disagreement would hinder board functioning and he had acted in good faith.
- Non-executive independent director Vivek Sharma was named interim chairman through January 31, 2027, Bhatt ceased to be a member of Coforge committees, and his resignation so far applies only to Coforge while he retains a director role at Wockhardt Ltd.
- Coforge shares dropped about 8.7 percent to an intraday low of Rs 1,780.10 on the BSE as investors reacted, and brokers say the governance review is now the key monitorable even as near-term operational impact appears limited.