Cognizant will pay 5 lakh dollars to its CFO Jatin Dalal to pay Wipro

Jatin Dalal: Last year, a large number of employees continued to move from one place to another in the Indian IT world. Many big companies including Wipro had accused Cognizant of luring their employees towards itself. This dispute with Wipro deepened further because the company's CFO Jatin Dalal also resigned and joined Cognizant. Wipro considered this unethical and filed a case against Jatin Dalal. Now to settle this matter, the board of Cognizant has appointed Jatin Dalal as its new CEO. Approved the payment of $505,087 (about Rs 4 crore).

Jatin Dalal left Wipro to become Cognizant's CFO

Wipro had filed a suit against its former CFO Jatin Dalal in December 2023. He had joined Wipro's business rival Cognizant. The Board of Directors of Cognizant Technology Solutions Corporation has approved a payment of $505,087 to its Chief Financial Officer (CFO) Jatin Dalal. Jatin Dalal will pay this money to Wipro and settle the case,

Wipro had filed a case in Bengaluru court

Cognizant said in an SEC filing that the settlement was made without any admission of liability by either party. The money paid to Jatin Dalal includes the amount to be paid to Wipro as well as the legal fees incurred by him. After Wipro filed a case in the civil court of Bengaluru, Jatin Dalal had requested the court to send the matter to arbitration.,

Jatin Dalal was working for Wipro since 2002

Wipro claimed that by joining Cognizant, Jatin Dalal had violated the non-compete and confidentiality agreement. Wipro had to suffer a direct loss due to his joining Cognizant. Jatin Dalal joined Wipro in 2002. He became the CFO of the company in April 2015 and also took over the additional responsibilities of the post of President in December 2019. In December 2023, he became the CFO of Cognizant, giving a shock to Wipro.

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