Jatin Dalal resigned as Wipro CFO and joined Cognizant on December 1. As per Economic Times, Jatin Dalal’s annual salary at Cognizant is around Rs 430000000.
Azim Premji owned Wipro filed a lawsuit against former CFO Jatin Dalal to pay damages of 250000000 in addition with annual interest at the rate of 18% per annum from September 29. Wipro reached the court claiming that Jatin Dalal has violated the non-compete clause in his employment contract. After the hearing, Bengaluru City Civil Court has now referred the lawsuit to arbitration, as requested by Dalal. For those who do not know, Arbitration serves as a method for settling disputes outside of court, where an impartial individual (known as an arbitrator) is selected to judge the matter. The decision made in this process is legally binding.
Jatin Dalal resigned as Wipro CFO and joined Cognizant on December 1. As per Economic Times, Jatin Dalal’s annual salary at Cognizant is around Rs 430000000. Wipro claims that Jatin Dalal signed a non-compete clause in employment contract that barred him from joining any rival company within 12 months after his resignation. However, Jatin Dalal resigned from Wipro in September after a 21 year long stint and joined Cognizant in December.
While working at Wipro, his salary dropped by 26% from Rs 12.07 crore in FY22 to Rs 8.92 crore in FY23. Jatin has been a part of Wipro since 2002, taking on various finance-related roles throughout his tenure. From 2002 to 2004, he spearheaded the establishment of Wipro's internal Shared Services division, serving as its head of finance. Prior to this, from 2011 to 2015, he held the position of CFO for Wipro's Global IT Business, operating out of Bangalore.
Jatin Dalal holds a Bachelor of Engineering degree from National Institute of Technology (NIT), Surat, India as well as a Post Graduate Diploma in Business Administration (PGDBA) with a specialization in Finance and International Business from NMIMS, Mumbai, India.
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