Phaneesh Murthy, the disgraced former chief executive of iGate Corp, may lose as much as Rs 84 crore in severance benefits after being sacked by the US-based firm for professional misconduct.

Murthy, who was sacked yesterday for not disclosing a relationship with a subordinate, however, is entitled to a post termination benefit of USD 6,000 per month till he and his spouse reach the age of 65.

"Upon termination other than for cause, Murthy would receive a lump sum payment of twelve (12) months' severance at USD 1,000,000," iGate had said in a filing before the US Securities and Exchange Commission (SEC) in March this year.

iGate sacked Murthy for violating company policy on relationship with a colleague. Since his termination was for professional misconduct, he may end up losing the severance benefits.