2024-01-02 20:59:22
The Wipro company has taken a controversial step by moving to court to seek Rs 25 crore as compensation from an employee who left after working for 21 years. The employee in question, Jatin Dalal, who served as the Chief Financial Officer of Wipro, resigned from his position and joined Cognizant on December 1.
In addition to the compensation, Wipro has also sought payment of 18 percent annual interest from September 29. This move comes as a result of Wipro’s non-compete clause, which prevents employees from joining rival companies within one year of leaving their position. Despite resigning from Wipro in September, Dalal joined Cognizant in December, prompting Wipro to take legal action.
The matter is set to be heard in court on January 3, where both sides will present their arguments. According to information published by the Economic Times, Dalal’s annual salary at Cognizant is reported to be Rs 43 crore, whereas his salary at Wipro had decreased from Rs 12.07 crore in 2022 to Rs 8.92 crore in 2023, which may have contributed to his resignation.
Dalal had been with Wipro since 2002, serving as Chief Financial Officer from 2011 to 2015, prior to his resignation. He previously worked at General Electric. Wipro is accusing Dalal of violating the non-compete clause, and is demanding repayment of a calculated amount equal to the total wages earned in the last 12 months, amounting to Rs 25.15 crore.
This legal battle has generated significant attention in the corporate world, and the outcome of the court hearing is eagerly anticipated by industry observers.
#Asim #Premjis #Wipro #seeks #crore #compensation #exemployee