Court to pass orders on ex-CFO’s plea for arbitration with Wipro on Jan 3
Dalal resigned from Wipro in September and is set to join rival Cognizant in January.
A civil court in Bengaluru will pass orders on January 3 on two interlocutory applications (IA) by Wipro Limited’s former Chief Financial Officer (CFO) Jatin Pravinchandra Dalal seeking arbitration with his former company.
The suit filed by Wipro on November 28 seeks payment of compensation of Rs 25,15,52,875 with interest of 18 per cent for allegedly violating a clause in his employment contract with the company.
Dalal resigned from Wipro in September and is set to join rival Cognizant in January.
Allegedly, the non-compete clause prevents Dalal from joining a rival within one year of leaving the company, failing which he would be liable to compensate Wipro with the value of the Restricted Stock Units (RSU) allotted to him or the sum of his total remuneration in the previous 12 months.
Earlier on November 28, the counsel for Dalal had filed a memo stating that the defendant was hospitalised. In a subsequent hearing, Dalal’s counsel filed IA No 4 under Section 8(2) of the Arbitration and Conciliation Act and IA No 5 under Section 8 of the same Act seeking to refer the matter for arbitration.
Recently, the counsel for Dalal filed an affidavit with copies of agreements and citations before the XLIII Additional City Civil and Sessions Judge who posted the next hearing for January 3, 2024 for the purpose of orders on the two applications by Dalal seeking arbitration in the case.
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First Published: Dec 29 2023 | 7:28 PM IST