Wipro sues former CFO who moved to Cognizant – Times of India

get me update


BENGALURU: Wipro has filed a suit against its former CFO Jatin Dalal in the civil court in Bengaluru, following which Dalal has filed an application, asking the court to refer the matter to arbitration.
The grounds for the suit remain unclear, but the arguments from both the parties have been heard and the next hearing is scheduled on January 3, when the court will pass an order on whether the matter should be referred to arbitration.Arbitration is the use of an arbitrator, instead of a judicial court, to resolve a dispute, and this method can be used if the employment contract provides for it.
Dalal joined Cognizant as CFO on December 1. The first hearing in the case was held on November 28. In early December, Dalal filed an application under Section 8 of the Arbitration and Conciliation Act 1996 that provides powers to the judicial authority to direct the parties to arbitration.
An email to Wipro and Cognizant on the matter did not elicit a response till the time of going to press.
Dalal reports to Cognizant CEO Ravi Kumar. A two-decade old veteran at Wipro, Dalal had served as CFO since 2015 and assumed additional responsibilities as president from 2019. At Cognizant, he’s expected to move to the US or UK once visa formalities are completed.
Wipro also recently filed a complaint against Mohd Haque, its former senior vice-president (SVP) and head of healthcare and medical devices for the Americas, for violating non-compete covenants by joining Wipro’s direct competitor, Cognizant, as the SVP and business unit head for life sciences. Wipro also alleged that he uploaded and emailed “seven files” from his personal Gmail account, in violation of his employment contract.
A few years ago, former Infosys CFO Rajiv Bansal invoked his rights to an arbitral tribunal to contest decision of Infosys to suspend the payment of about Rs 12 crore of the severance pay that was promised to him at the time of his leaving in 2015.
Infosys had agreed to pay him Rs 17.3 crore as severance, but it disbursed only Rs 5 crore of it, and held back the rest, accusing Bansal of breach of confidentiality agreements and deletion of data from official systems. The arbitrator ruled in his favour.


Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *