Wipro Limited, a leading technology services and consulting company, has filed a lawsuit against its former Chief Financial Officer (CFO), Jatin Pravinchandra Dalal, in a civil court located in Bengaluru.
Following this, Dalal submitted an application to the court, seeking arbitration for the matter. While the specific reasons for the lawsuit remain undisclosed, both Wipro and Dalal have presented their arguments, and a hearing is scheduled for January 3, during which the court will determine whether the dispute should proceed to arbitration, according to a report by Times of India.
Wipro on September 21, 2023 announced the resignation of Jatin Dalal as CFO of the Company, through an exchange filing and appointed Aparna Iyer as CFO of the Company.
Dalal joined Wipro in 2002 and served as Wipro's CFO since 2015, relieved from the services of the Company from November 30, 2023. Later, in September, Dalal was appointed as the CFO of Cognizant Technology, taking over from Jan Siegmund, who intends to retire in early 2024.
Wipro Limited shares
The shares of Wipro on Wednesday at 12:24 pm IST were trading at Rs 465.20, down by 1.04 per cent.