Wipro, India’s third-largest software services exporter, has filed a civil suit in Bengaluru against its former chief financial officer (CFO), Jatin Dalal. On the other hand, Dalal has filed an application with the court, demanding that the case be referred to arbitration. At this time, the particular reasons behind the case are unknown.
Both the Bengaluru-based IT company and its former CFO have made their legal arguments, and the next hearing is slated for January 3. During the next hearing, the court will decide whether the disagreement should be resolved through arbitration, which provides an alternative channel for conflict resolution that is more efficient and private than typical court processes.
In a regulatory filing in September, Wipro announced Dalal’s resignation as CFO. Aparna Iyer has also been named as the new CFO, according to the business. Iyer will join the Wipro executive board and report to CEO Thierry Delaporte.
Dalal, who has been with Wipro for 21 years and has been the company’s CFO since 2015, was relieved on November 30 from his services.
Dalal was named CFO of IT services business Cognizant Technology in September. Jan Siegmund, who expects to retire in early 2024, will be succeeded by him. Following Dalal’s appointment as CFO, Siegmund will remain with the firm as a non-executive officer and special advisor to ensure an orderly transition.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.