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Informist, Friday, Sept. 11, 2026

 

--Coforge: Auditor reviewing how board evaluation reports were circulated

--Coforge: Auditor found chairman asked evaluation reports not be shared 

--Coforge: Board evaluation findings were not disclosed to members, key body 

 

MUMBAI – Coforge Ltd. Thursday said its internal auditor found that former chairman O.P. Bhatt had asked the board evaluation report not to be shared with other board members. The report was available only to Bhatt and the chairman of the nomination and remuneration committee, the company said in an exchange filing. DK Singh chairs Coforge's nomination committee.

 

The internal auditors found this while evaluating how the board evaluation reports were circulated, presented, and discussed before the nomination and remuneration committee and the chairman. The internal audit is ongoing, the company said. 

 

"The internal auditor has further observed that the manner in which the evaluation findings were presented (without sharing copies of the reports) by the chairman of the board and the NRC (nomination and remuneration committee) chair to the NRC and the board did not cover all relevant aspects and findings. In particular, while the chairman's category received the lowest rating in the reports, this finding was not disclosed or discussed before the NRC or the board by the NRC chair and the chairman of the board," the filing said.

 

The company iterated that the board evaluation process is "entirely distinct" from its financial reporting and audit processes. Matters related to evaluating board members do not concern the company's financial statements, accounting policies, revenue or profitability, and have no bearing on the company's financial or operational performance or its business and growth outlook, Coforge said.

 

For the June quarter, Coforge reported a consolidated net profit of INR 5.19 billion on revenues of INR 55.28 billion. Thursday, its shares closed at INR 1,833.10 on the National Stock Exchange, down 0.6% from the previous close.  End

 

Reported by Ayush Jaiswal

Edited by Saji George Titus

 

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