Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

Cognizant settles lawsuit with Wipro over CFO’s appointment

Cognizant paid around Rs 4.1 crore to its CFO Jatin Dalal to settle the case against his former employer Wipro.

Cognizant settles lawsuit with Wipro over CFO’s appointment

Tuesday July 09, 2024 , 2 min Read

Technology services company Cognizant has reached a settlement in the non-compete lawsuit filed by Wipro Ltd over the appointment of Chief Financial Officer Jatin Dalal. This involved a payment of $505,087 (around Rs 4.1 crore).

“On July 2, 2024, the Compensation and Human Capital Committee of the Board of Directors of Cognizant Technology Solutions Corporation approved the Company’s payment of $505,087 to Mr Jatin Dalal, the Company’s Chief Financial Officer, in connection with Mr Dalal’s settlement of the lawsuit and related arbitration brought by his former employer, Wipro Limited,” Cognizant said in a filing.

Jatin Dalal

Cognizant CFO Jatin Dalal

The amount paid by Cognizant covers Dalal’s settlement payment to Wipro as well as reimbursement of his legal fees.

Wipro had filed a case against former CFO Jatin Dalal, who then later joined Cognizant. Dalal resigned from his position of CFO at Wipro in September 2023 and joined Cognizant on December 1.

The terms of the settlement, which was reached without any admission of liability by either party, are confidential, Cognizant said in a statement. The settlement resolves all pending disputes between Mr. Dalal and Wipro.

"I am grateful for my journey with Wipro and I am pleased to have this matter behind me. I’m looking forward to continuing to drive Cognizant’s growth agenda while delivering value to our clients, employees, and shareholders,” said Dalal.

“We are happy to have settled this matter. We are glad this issue has been resolved safeguarding our contractual rights. We wish Jatin well in his future endeavours,” said Saurabh Govil, President and Chief Human Resource Officer, Wipro Limited.

Cognizant also said that a similar settlement has been reached regarding the lawsuit between Wipro Limited and Mohammad Haque, a former Wipro senior executive.


Edited by Jyoti Narayan