STARTUP LEGAL11 Sept 2026
Experts call for intense evaluation of boards as Coforge chairman exits under a cloud | Company Business News
Coforge's chairman, O. P. Bhatt, resigned after the board said some findings in its Board Evaluation Report were not fully shared with directors. This affects listed companies and their boards. The yearly review, required by market regulator Sebi, often runs as a tick-box form rather than a real check. Experts like Marico's Harsh Mariwala want deeper, company-specific reviews.
Key Statutory Highlights
- O. P. Bhatt resigned as Coforge's non-executive independent director and chairperson after the company said material information in its Board Evaluation Report and the chairman's performance had not been fully disclosed to the board.
- India's board evaluation is a yearly exercise born from the Companies Act, 2013 and Sebi rules, where the nomination and remuneration committee assesses the board or appoints an outside agency.
- Harsh Mariwala said Indian boards would rate around 2 to 2.5 on a scale of five for effectiveness, and that reviews must be customised to each company's context.
Actionable Advice for Taxpayers / Founders:Check how your own board evaluation is actually carried out, and ask your nomination and remuneration committee to record honest, complete feedback rather than filling a standard form. If you are unsure whether your process meets the rules, consult a qualified company secretary or chartered accountant.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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