Date:19/04/2006 URL: http://www.thehindubusinessline.com/2006/04/19/stories/2006041903351200.htm

Back Non-compete clause bugs top guns

Vinod Mathew

HR team asked to camp in Gulf to pull in people

Mumbai , April 18

Non-compete clause is an issue that has been dogging the Reliance group a lot recently.

While most cases have had the clause in focus in businesses involving the two Ambani brothers, in this instance it is a couple of the Indian retail majors that are said to be making life difficult for the wannabe Reliance Retail top honchos ready for shifting loyalties.

According to a source familiar with the situation, at least a couple of big names that have joined the Reliance Retail fold are facing difficulties on this front.

"They seem to have not accounted for the non-compete clause they had signed while picking up ESOPs in their previous outfits and now are trying hard to find a way out." he said.

The discomfiture is not suprising, given that some of them had signed up pay packets of around Rs 4 crore a year.