Azim Premji's Wipro filed a lawsuit against former CFO Jatin Dalal to pay damages of 250000000 in addition with annual interest at the rate of 18% per annum from September 29.
Azim Premji’s Wipro is one of the biggest tech companies in India with a market cap of more than Rs 240000 crore. Just the billionaire Azim Premji, Wipro is known for its ethics, philanthropy and work culture. Often in the news for its business deals, Wipro is currently trending as it is reportedly planning to settle lawsuits against former executives. One of the executives that may get a sigh of relief from this news is Jatin Dalal. For those who are unaware, Wipro filed a lawsuit against former CFO Jatin Dalal to pay damages of 250000000 in addition with annual interest at the rate of 18% per annum from September 29. Wipro reached the court claiming that Jatin Dalal has violated the non-compete clause in his employment contract.
Jatin has been a part of Wipro since 2002, taking on various finance-related roles throughout his tenure. From 2002 to 2004, he spearheaded the establishment of Wipro's internal Shared Services division, serving as its head of finance. Prior to this, from 2011 to 2015, he held the position of CFO for Wipro's Global IT Business, operating out of Bangalore.
Before joining Wipro, Jatin was part of the prestigious Financial Management Program (FMP) of General Electric (GE) where he was a ‘Global Corporate Honors’ awardee. Dalal served as a member of the New York Stock Exchange's Listed Company Advisory Board from June 2015 to November 2022. He is also the co-chair of the CFO Committee of the Confederation of Indian Industry (CII) for fiscal year 2023-2024.
Jatin Dalal holds a Bachelor of Engineering degree from National Institute of Technology (NIT), Surat, India as well as a Post Graduate Diploma in Business Administration (PGDBA) with a specialization in Finance and International Business from NMIMS, Mumbai, India.
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