Coforge chairman OP Bhatt resigned following undisclosed findings in the company’s board evaluation report, raising concerns about corporate governance practices in India. The resignation, reported on September 11, 2026, has intensified calls for more rigorous and transparent board assessments across Indian firms, especially as such evaluations are mandated by the Securities and Exchange Board of India (SEBI).
The board evaluation process at Coforge, typically overseen by the nomination and remuneration committee or an external agency, revealed issues that were not publicly disclosed. This lack of transparency has drawn criticism from governance experts who argue that the SEBI-mandated exercise often becomes a formality rather than a thorough review. Some advisory firms are now advocating for deeper, more customized evaluations to ensure accountability and effectiveness in board functioning.
The resignation highlights broader challenges in Indian corporate governance where board evaluations are frequently seen as procedural rather than substantive. Experts emphasize that robust board assessments are critical for identifying weaknesses and improving oversight, especially in the wake of high-profile governance lapses. The Coforge case adds to the discourse on strengthening board practices to align with global standards and investor expectations.
The incident has prompted renewed scrutiny of board evaluation practices in India’s corporate sector. SEBI’s regulations require listed companies to conduct annual board evaluations, but the effectiveness of these reviews remains under question. Bhatt’s departure serves as a concrete example of the consequences when governance issues surface, underscoring the need for enhanced transparency and accountability in board oversight.