More than 700 employees of a Pune-based IT company were reportedly left without jobs after the firm abruptly ceased operations overnight, according to reports from NDTV. Staff members claimed they received no prior notice and were unable to access the office, while several employees alleged that pending salaries remained unpaid. The company, ThynkTech India, is located in Pune's Hinjewadi Phase II IT corridor and had been operating until the sudden closure in April 2026. According to the latest reports, the company originally launched operations in 2025 before its dramatic collapse. On April 20, affected workers approached Pune Police seeking intervention and recovery of their dues. According to FITE (Forum For IT Employees), the controversy has intensified after police arrested the company's CEO on allegations of criminal breach of trust and cheating.
Fresh details have emerged regarding the alleged financial irregularities at ThynkTech India, with the company accused of collecting a ₹15,000 security deposit from each employee and intern, ostensibly for official laptops. According to staff members, the firm initially paid salaries and stipends on time, a tactic recruits say built a false sense of trust. However, payments reportedly stopped entirely from January 2026 onwards. The situation deteriorated further when the company gave employees cheques to pay their pending salaries, but those cheques could not be cashed because they bounced. This made people doubt whether the company had enough money and showed signs it was in serious financial trouble before it shut down suddenly. Former employees say management repeatedly cited internal audits and funding delays while promising that salaries would soon be released, but those payments allegedly never materialised. Police are now investigating claims that the company misused those deposits to cover expenses instead of paying staff. Some workers claim those deposits were never returned, while several interns further alleged they neither received the equipment they had been promised nor the stipends offered during their training period.
Police have arrested the company's CEO, Harshal Thakre, in connection with the case amid allegations of criminal breach of trust and cheating, as reported by NDTV. Along with the arrested CEO, the company's head of training and development and a human resources manager have also been formally booked in connection with the case. The probe into the sudden closure of ThynkTech India has since expanded beyond the initial complaint, with officials stating the case was initially registered based on a complaint filed by a 25-year-old intern. According to FITE (Forum For IT Employees), the arrest was facilitated through collective efforts on social media platforms, with the organization urging employees to come forward and report such scams. Police have launched an investigation into the firm's operations and financial dealings, authorities are examining allegations that employee security deposits were misappropriated and that workers were misled about salary payments and employment conditions. According to complaints submitted to authorities, some workers suspect employee deposits may have been used to fund company operations, although those allegations remain under investigation.
According to the Hinjawadi police, the grievance is widespread, with more than 30 additional interns and employees since approaching authorities with similar complaints of unpaid dues and unreturned deposits, according to NDTV. Affected staff members allege that the IT firm abruptly halted all operations back in April, locking out employees without warning. Many reported arriving at the Hinjewadi Phase II workplace only to find the premises entirely shuttered and company representatives completely unreachable. The widespread nature of the complaints suggests the financial troubles affected employees across different departments and seniority levels within the organization. Former staff members claim the company had conducted large-scale hiring drives throughout 2025, attracting hundreds of job seekers with promises of career opportunities in one of India's largest technology hubs. Several victims have also reportedly filed complaints with labour authorities, alleging that the company used employee deposits for operational expenses while continuing to recruit new candidates even as salary backlogs mounted.
