Over 700 employees left jobless as ThynkTech India CEO arrested

More than 700 employees of Pune-based IT firm ThynkTech India lost their jobs after the company allegedly shut down abruptly. Police arrested CEO Harshal Thakre over alleged financial irregularities, while employees reported unpaid salaries, bounced cheques, and unreturned security deposits

New Delhi: More than 700 employees of Pune-based IT company ThynkTech India were left without jobs after the firm allegedly shut operations abruptly, leaving staff locked out of offices and struggling to recover pending salaries and deposits, according to multiple reports.

According to them, the police have arrested the company’s CEO, Harshal Thakre, as part of an expanding investigation into alleged financial irregularities and cheating linked to the sudden closure of ThynkTech India, located in Pune’s Hinjewadi IT hub.

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The case initially came to light following a complaint filed by a 25-year-old intern, prompting police to launch a wider investigation into the company’s finances and business operations.

According to officials, more than 30 additional employees and interns have since approached the police with similar complaints, including allegations of unpaid salaries, withheld stipends and failure to return money collected from workers.

Employees alleged that the company ceased operations abruptly in April without prior communication, with many arriving at the office premises only to find them shut and company representatives unreachable.

Investigators have also booked the company’s head of training and development, along with a human resources manager, in connection with the case.

Reports claim that, according to complaints filed by employees, the company allegedly collected security deposits of around Rs 15,000 from workers and interns, claiming the amount was required for official laptops and equipment. Staff members claimed that salaries and stipends were initially paid on time, helping build confidence among employees, before payments reportedly stopped altogether from January this year.

Several employees also alleged that the company later issued cheques against pending salaries, but many of those cheques bounced, further raising concerns about the firm’s financial condition before operations were suspended.

Police said the investigation is ongoing and additional financial records and transaction details are being examined as part of the probe.