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  • Yet another software firm dupes youngsters.

    HYDERABAD : Employees of yet another software firm which allegedly duped them after collecting money promising jobs, approached police to take action against the firm.

    The agitated youngsters working at a private software firm, Professional Techno Soft, located at Somajiguda, said the firm promoters collected money ranging from Rs. 50,000- Rs. 1 lakh from them promising jobs to them six months back.

    Hundreds of youngsters who completed B.Tech and other courses joined the firm by paying the amount. The recruitments were made through associates of the firm management. Later, management started to remove some from service terming them as ‘unfit’. Those who were working were not given salaries since the past few months.

    Agitated over this, a few employees staged a protest in front of Punjagutta police station to lodge a complaint against the firm’s managing director, K Rami Reddy. One of the promoters allegedly threatened employees stating he is close to a senior police official. The employees later met a senior police official to resolve the issue. Though Punjagutta police are tight-lipped over the incident, it is learnt a case has been registered and Ram Reddy taken into custody.

    Source : Indian Express

  • No regulator to filter fraud IT companies.

    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.

    “There is no regulatory authority that can take action against such companies or filter out the fraud companies. STPI has the power to accept registration of companies, but most of the fraud companies do not even apply for registration and start operating from any address,” indicated a member of Nasscom.
    Many fraudulent companies try to seek business opportunities under government schemes on the basis of the number of people employed. They take money from potential employees as a deposit or training fee and once they have collected a reasonable amount, they just vanish. In fact, it is pretty easy to float an IT company — all you have to do is show an office address. There are enough people eager to land an IT job without looking too closely at a company’s credentials.

    Source : DC

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