Wipro has taken action to sue Jatin Dalal, who has worked as a CFO previously in the company. Jatin held different posts in the company for 20 years. The leading Bengaluru-based IT company of India is pursuing the case in Bengaluru’s civil court. Aparna Iyer will take the place of Jatin and hold the position of the new CFO. The company has made the declaration about Iyer’s appointment in the regulatory filings.
Apart from Dalal, several other top-level officials have quit their jobs at the firm. According to Moneycontrol sources, Thierry Delaporte will also be removed from the company soon.
Wipro has not commented or given its views on the lawsuit it filed against Jatin Dalal. The IT major has been buzzing with activity and news for the past seven days with the decision to make changes in the top management. The value of its stocks has increased by 7% owing to the expectation that Sanjay Jalona will join the top management. Jalona had occupied the position of the CEO of L&T Infotech previously. The software company, on the other hand, dismisses this news of Sanjay’s appointment as a rumour.
The Reason For Legal Action By Wipro is Unclear
The exact reason the lawsuit was filed is not clear yet. Jatin left the job as a CFO on 30 November 2023. He joined Cognizant on 1st December 2023.
The legal proceedings in the court have already started and the court held the first hearing on 28th November.
Jatin Dalal Appeals For Arbitration
The IT company and Jatin Dalal have presented their views on the case. Jatin has submitted a request for arbitration in the matter. He has appealed for arbitration under Section 8 of the Arbitration and Conciliation Act 1996. This is an important act that allows the court to pass an order for arbitration in a legal dispute.
The court has scheduled the hearing for judgment for 3rd January. On this day, the court will decide if Jatin’s plea for arbitration should be accepted or not.
What is Arbitration
Arbitration helps resolve a dispute or legal matter by the intervention of an arbitrator rather than a court having to deal with it. It is viewed as a better option than traditionally fighting a court case. During the process of arbitration, the issue is resolved through a private procedure.