A civil court in Bengaluru will pass orders on January 3 on two interlocutory applications (IA) by Wipro Limited’s former Chief Financial Officer (CFO) Jatin Pravinchandra Dalal seeking arbitration with his former company.
The suit filed by Wipro on November 28 seeks payment of compensation of Rs 25,15,52,875 with interest of 18 percent for allegedly violating a clause in his employment contract with the company.
Dalal resigned from Wipro in September and is set to join rival Cognizant in January.
Allegedly, the non-compete clause prevents Dalal from joining a rival within one year of leaving the company, failing which he would be liable to compensate Wipro with the value of the Restricted Stock Units (RSU) allotted to him or the sum of his total remuneration in the previous 12 months. Earlier on November 28, the counsel for Dalal had filed a memo stating that the defendant was hospitalized.
Also Read: PM To Flag Off Jalna-Mumbai Vande Bharat Service Through Video Link From Ayodhya On Dec 30
In a subsequent hearing, Dalal’s counsel filed IA No. 4 under Section 8(2) of the Arbitration and Conciliation Act and IA No. 5 under Section 8 of the same Act seeking to refer the matter for arbitration.
Recently, the counsel for Dalal filed an affidavit with copies of agreements and citations before the XLIII Additional City Civil and Sessions Judge who posted the next hearing for January 3, 2024, for orders on the two applications by Dalal seeking arbitration in the case.
To read more such news, download Bharat Express news apps
