While Andhra Pradesh boasts of being a major information technology hub, competing closely with Bengaluru, its IT sector, of late, has been plagued by sham companies. There have been four cases of fraud registered by the police in the last two months, the latest being of Teleonto Techno-logies Private Limited, an IT company operating out of Gachibowli. There is no regulatory authority in place to filter out the fly-by-night companies. Although the Software Technology Parks of India is responsible for clearing registration of companies, it mainly plays the role of promoter, not regulator.
