Former Wipro CFO Jatin Dalal In Trouble As He Gets Sued After Joining Rival Cognizant

Nearly a month after he joined rival firm Cognizant, Wipro’s former Chief Financial Officer Jatin Dalal has been sued by the IT giant in a civil court in Bengaluru. A two-decade-old veteran at Wipro, Dalal had served as CFO since 2015 and assumed additional responsibilities as president in 2019.?

When Had Jatin Dalal Joined Cognizant?

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Jatin Dalal joined rival Cognizant as the CFO earlier this month on December 1, 2023. Dalal reports to Cognizant CEO Ravi Kumar. At Cognizant, he’s expected to move to the US or UK once visa formalities are completed.

According to a TOI report, former Wipro CFO Dalal has filed an application asking the court to refer the matter to arbitration. For the unversed, 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.?

The first hearing in the case was held on November 28. While the grounds of the lawsuit are unclear, the report suggests that the court has heard the arguments from both parties, and the next hearing is scheduled for January 3.

In early December, Dalal filed an application under Section 8 of the Arbitration and Conciliation Act 1996 which provides powers to the judicial authority to direct the parties to arbitration.

Where Did He Work Before Wipro?

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Also Read:?Why Former Chairman Azim Premji Is Not Happy With?Wipro

Before joining Wipro, Jatin was part of the prestigious Financial Management Program (FMP) of General Electric (GE) where he was a ‘Global Corporate Honors’ awardee.

Jatin is a qualified Chartered Accountant (CA), India, Cost and Management Account (CMA), India, and Chartered Global Management Accountant (CGMA), UK and a Chartered Financial Analyst (CFA). He holds a Bachelor of Engineering degree from the National Institute of Technology (NIT), Surat, India as well as a Post Graduate Diploma in Business Administration (PGDBA) with a specialization in Finance and International Business from NMIMS, Mumbai, India.

How Former Infosys CFO Once Faced A Similar Scenario?

A few years ago, former Infosys CFO Rajiv Bansal invoked his rights to an arbitral tribunal to contest the 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.

Which Other Wipro Executive Was Sued Earlier?

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Besides Dalal, Wipro had also filed a complaint against former senior executive Mohd Haque, for violation of a non-compete clause in his employment contract by joining Cognizant before August this year.

In its complaint, Wipro said Haque, who quit in June this year, had agreed to certain restrictions on his post-employment activities, including prohibition of work for a small set of Wipro competitors including Cognizant, for 12 months after his employment ended.?As per the report, upon Haque’s promotion to the role of Wipro’s senior vice president (SVP) and localisation as a US employee, he was eligible to receive more than $1 million in equity awards over many years, said the complaint filed in a US court.

Also Read:?All You Need To Know About?Wipro's?New CFO Aparna Iyer

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