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Tag: HYDERABAD

  • Industries losing Rs 110cr every day.

    The industrial sector is reporting a production loss of Rs 110 crore a day following the 15 per cent shortfall of power due to the Telangana employees strike which entered its ninth day on Wednesday. The RTC, meanwhile, put on hold its decision to sack contract employees who are on strike. A number of industries in Ranga Reddy and Medak district have shut down temporarily due to prolonged load shedding. “The worst hit by the power shortage are the medium and small enterprises which do not have generation capacity of their own,” said Mr Rajeshwar Rao, secretary of the Federation of AP Chambers of Commerce and Industry.

    About 15 per cent of overall production losses are being reported causing approximately a loss of Rs 110 crore daily, he said adding “Many companies are choosing to not run to avoid loss of wages.” The IT hub in Madhapur is facing six-hour power cuts daily apart from the two-hour power cuts imposed in the area. Most of the bigger IT companies maintain back-up, but Mr P. Suresh, IT and ITES Industry Association president pointed out, “The power cuts are resulting in huge increase of operational costs for IT companies.”

    But ministers and VIPs dwelling in Ministers Quarters (Road No 12, Banjara Hills) remained immune to power cuts. According to an aide of a senior minister there have been no power cuts in the area. This while a number of areas in the city reported multiple power shutdowns, as against the two-hour power cuts announced officially. Government websites went offline due to power failure, while many departments had difficulty finding internet connectivity and could not send or receive emails. The website of the ‘Centre for Good Governance’ remained offline through the day citing power failure.

    Source : DC

  • Yet another software firm shuts down in Hyderabad.

    HYDERABAD: Yet another software company, third in a span of one month, shut down shop, duping 200-odd its employees in the city on Sunday.

    In 2009, an MCA graduate, Shaik Umer Ali of Palakollu along with his associate Saleem Baba launched a software company, Task Informatics, with a corporate office at Shivam Road. In January, 2011, they started another branch at Arunodaya Colony in Madhapur and a few months ago began recruiting staff. At the time of recruitment, the management charged between Rs 60,000 to Rs 1.2 lakh for each employee by promising them a salary of Rs 8,000 per month.

    As they had not received salary for the last four months, the employees became suspicious about the intentions of the management and started questioning their CEO Puneet. A series of talks have been going on between the employees and the management for the past few weeks. Till Saturday night, the management tried to pacify their 235 employees by promising to give them salaries. However, as the salary was not been debited into their accounts even on Sunday, some of them went to the Madhapur office to inquire about it. The employees met their MD Umer Ali and CEO Puneet at the office and the duo made it clear to the employees that they were not in a position to pay salaries.

    Angry employees roughed up the duo and damaged some furniture at the office. Meanwhile, police reached the spot and took the duo into custody. “Since four months, we have not received salary and Puneet kept on assuring us that it will be paid soon,” Suresh, one of the victims, told TOI.

    The management claimed that apart from two offices in the city they have two more offices in Bangalore and Pune and police are verifying about these branches. “The management collected about Rs 80 lakh from the employees. Based on the complaint lodged by the employees, a cheating case was booked against Umer Ali, Saleem, Puneet and others under section 420 of the IPC,” Madhapur inspector K Srinath Reddy said.

    Source : TOI

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