When an low or middle level employee is fired or made to resign by the company, what option do they have? Usually, the only option is to brush up the resume and to start looking for other jobs. In the meantime, worry to death about how to support the family and pay EMIs.
But find out how the story is different for the top managers and the rich :
Micromax former chairman Sanjay Kapoor may file a claim of Rs 600-700 crore against the company for wrongful dismissal as per a report in the Economic Times.
Former Airtel chief executive officer Kapoor was hired in June 2014, along with other senior executives, to professionalise the management. However, differing working styles led to a breakdown in the relationship between him and the promoters, who have regained full operational control. The company had alleged inflated expense claims as reason for the dismissal, an accusation Kapoor vigorously denied.
In September 2015, Kapoor moved the Delhi High Court against Micromax for not paying him the value of shares he said were due to him. He challenged the ouster and moved the court to appoint a sole arbitrator to decide the dispute between him and Micromax. During mediation Kapoor demanded setting up of an arbitration panel. A three-member tribunal headed by former Supreme Court judge BP Singh and former Andhra Pradesh High Court chief justice Devinder Gupta (appointed by Micromax), former Delhi High Court judge VS Agarwal (appointed by Kapoor’s team) as members is formed and its first hearing is set for May 10.
Can you imagine such a facility of appointing a retired judge to negotiate on your behalf to negotiate with the company in case of any dispute?