Cognizant Pays $505,087 (Rs 4 Crore) to Settle Wipro Lawsuit Against CFO Jatin Dalal

Jul 9, 2024, 11:48 AM

Cognizant Technology Solutions has approved a payment of $505,087 (approximately Rs 4 crore) to its CFO, Jatin Dalal, to settle a lawsuit brought by his former employer, Wipro. The lawsuit alleged that Dalal and another former executive, Mohd Haque, breached their non-compete clauses by joining Cognizant. The payment covers Dalal’s settlement payment to Wipro as well as reimbursement of his legal fees. The terms of the settlement, which was reached without any admission of liability by either party, are confidential.