Wipro expected to settle soon with former top executives Jatin Dalal, Mohd Haque

Dalal, who has been with Wipro for 21 years and served as the CFO since 2015, was relieved from the services of the company with effect from November 30.

IT major Wipro is reportedly in the process of finalising settlement agreements with former chief financial officer (CFO) Jatin Dalal and former healthcare head Mohd Haque over alleged violation of non-compete clause.

The pact is expected to be executed within this week among Wipro, Cognizant, Dalal and Haque, the Times of India has reported.

Wipro is seeking Rs 25 crore from Dalal for breach of contract, as he joined Cognizant as the CFO immediately after leaving Wipro, the report said.

Moneycontrol couldn't verify the report independently.

Wipro announced the resignation of Dalal, who had been with the company for 21 years and served as the CFO since 2015, in September and he was relieved on November 30.

Cognizant announced Dalal's appointment as CFO in September, effective December.

In December, Wipro filed a suit against Dalal which was referred to arbitration by the Bengaluru City civil court on January 3. Wipro accused Dalal of violating the non-compete clause in his employment contract by joining rival Cognizant Technology within 12 months from his last date of work. Dalal requested the court to refer the matter to arbitration.

Wipro also filed a similar complaint against Haque for by joining Cognizant, a direct competitor.

Also Read | Not against any individual, it's about contractual obligations: Wipro on lawsuits against former top executives

Haque, who was senior vice president (SVP) and led healthcare and medical devices for America at Wipro, left the firm to take over as SVP and business unit head for life sciences at Cognizant.

Recently, Wipro reported better than expected net profit of Rs 2,835 crore for the March quarter.