Yet Another IT Company Added to the List of Increasing IT Frauds in City

Hyderabad, which is seen as the budding IT capital in the country is marred by the fraudulent IT companies. These fraud companies are found to be collecting huge amounts from employees as deposits while recruiting and are cheating them when the company is running in to losses, leaving the future of the employees in doldrums.

Keeping the trend alive, yet another fraud IT company in the city has come in to the light recently. Serene Solutions, situated in Road no.2 of Banjara Hills, having an employee strength of 750 employees has failed to pay their salaries from past two months.

The manager who is absconding, is found to have collected Rs.1 lakh from each candidate as security deposits while recruiting them as employees. And now as the company is facing losses, it had not payed their salaries and not even returning their security deposits. Based on the compliants lodged by the employees, the police have registered a cheating case against the director and have seized documents and computers.

In the last one year, there were at least five to six IT companies in the city which were shammed due to the fraudulent acts. Some of them which have duped the employees and have declared to be frauds are – Prodigy solutions, Tamcos technologies, Task Informatics Pvt. Ltd., Teleonto Technologies Pvt. Ltd. (this company is considered to be the biggest fraud duping its employees of Rs.18 crore).