AP: Another IT firm dupes staff

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HYDERABAD: Yet another IT company downed its shutters in the Hitec city on Sunday duping more than 200 of its employees of Rs 80 l..

HYDERABAD: Yet another IT company downed its shutters in the Hitec city on Sunday duping more than 200 of its employees of Rs 80 lakh. This is the third such organisation which cheated its staff. Two other companies shut shop on the same grounds in the last two weeks.
The employees reportedly locked up the management representatives in the office and later registered a complaint with the Madhapur police after talks between both parties failed. A case under Section 420 (cheating) was registered against the company's CEO Puneeth, MD Ali and others. Puneeth and Ali are reportedly in police custody.Preliminary investigation revealed that Punneth was a B Com graduate while Ali claimed to have completed his MCA.

Both the victims and the accused are not having enough education qualifications to either work in software company or to run a firm, the police said, adding that it was the same condition with regard to the previous two companies against which cases were registered.

According to police, the firm was floated by Puneeth and Mohd Omer Ali was its managing director.

The promoters, in fact, hardly had any projects and the employees were workless since its inception.

Another round of meeting was held on Sunday and finally the talks broke down with the restless employees attacking the company representatives charging them with cheating.