The future of around 750 employees of a software firm appears grim as the company is seemingly on the verge of closure, as indicated by it not being able to pay salaries for the past two months.

According to a complaint filed with the Jubilee Hills police by some employees of Serene Solutions, located on Road No. 2, Banjara Hills, the IT firm has about 750 employees on its payrolls, but it has failed to pay their salaries.

Jubilee Hills inspector K. Narsingh Rao said, “We have registered a cheating case against the company’s managing director Mani Kumar who is absconding. We have seized computer systems and documents from the company.”

The employees alleged that the company recruited around 750 persons by taking huge amounts as security deposits.

Following the inability of the company to pay the salaries, the employees demanded their security deposits back. However, the company refused to return the money.

“I paid `1 lakh when I joined the company. Now the company is facing losses and that’s the reason we have not been paid our salaries. We demanded our money back but they are not ready to return it,” said an employee who didn’t want to be named.

Cases of sham IT companies duping their employees have made headlines time and again, but there is no effective mechanism to ensure that such firms are shut down before they defraud the employees. There have been at least five to six such cases in the last one year, indicate officials.

Heading the list of fraudulent IT companies is Teleonto Technologies Pvt. Ltd., the firm that duped employees of around Rs 18 crore.

Shortly after this, firms like Task Informatics Pvt. Ltd and ‘Tamcos Technol-ogies’ shut shop, leaving the employees in the lurch.

Source : DC
Source : Eenadu News Paper