Wipro sues former CFO Jatin Dalal after he associates with Cognizant

27 Dec 2023 , 02:46 PM

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.

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