This paper reports statistically significant correlations between various burst parameters, observed in a sample of 156 GRBs belonging to BATSE 4B catalog with T90 less than 2 s. The number of subpulses in a burst is strongly correlated not only with the object's duration but also with its fluence and hardness ratio, suggesting that when the central engine is more powerful, ejecting matter with typically higher values of Lorentz factor, the bulk energy is dissipated on longer time scales in the form of larger number of gamma pulses. We estimate hard-to-soft lag in bursts by taking the difference between centroids corresponding to time profiles at energies keV and keV. The number of short GRBs that show soft-to-hard spectral evolution is slightly over one quarter of the total, in the sample considered here. Bursts that exhibit hard-to-soft spectral change appear to form a distinct class, with strength as well as hardness of individual subpeaks tending to decrease with peak position. Opposite is true for objects with softer photons arriving earlier than the harder ones, implying some kind of a rejuvenation of the central engine (may be due to enhanced accretion of matter towards the end). The two classes also show other diverging trends. For instance, objects belonging to the larger of the two classes display strong correlations between spectral lag and the fluence, the hardness ratio as well as the number of pulse, respectively. While no such correlations are seen in bursts that evolve from soft to hard. However, the magnitude of lag is strongly correlated with burst duration in both the classes.