New Delhi, Jan. 29 -- Coforge Ltd's public shareholders rejected the firm's decision to give private equity giant Advent International the right to nominate members on the board's audit, nomination, and remuneration panels, forcing the Noida-headquartered IT services firm to remove these privileges, in an effort to woo shareholder approval to its proposed $2.4 billion buyout of a US analytics firm.

Late on Tuesday night, Coforge informed the exchanges that 31% of shareholders had opposed the resolution granting special rights to Advent. Eventually, upon completion of the Encora deal, Advent will own 20% of Coforge.

This special resolution was defeated because it fell short of the required three-fourths approval.

About 14 hours later, o...