Wipro is reportedly finalizing a settlement agreement with its former CFO Jatin Dalal and former healthcare head Mohd Haque, with the pact expected to be formalized within the week, as per a report by the Times of India. LegalParivar has not independently verified this information.
According to the report, Wipro is seeking Rs 25 crore from Dalal in a lawsuit filed in a Bengaluru civil court for breach of contract, as he joined Cognizant as CFO immediately after leaving Wipro on November 30.
In November, Wipro filed a lawsuit against Dalal, accusing him of violating the non-compete clause in his employment contract by joining rival Cognizant within 12 months from his last date of work. The lawsuit was referred to arbitration by the Bengaluru City Civil Court in a hearing on January 3. In response, Dalal requested the court to refer the matter to arbitration.
Wipro has also lodged a complaint against Haque for violating non-compete clauses by joining Cognizant, a direct competitor.
Dalal, who served as Wipro’s CFO for six years, was relieved from his duties on November 30. In September 2023, Cognizant Technology appointed him as its CFO.
Haque, who previously held a senior position at Wipro, departed to assume a leadership role at Cognizant.
Wipro Ltd reported an 8 percent decline in net profit to Rs 2,835 crore for the fiscal fourth quarter, surpassing estimates. The company’s profit stood at Rs 3,074.5 crore in the same period last year.
