Around 800 techies in Hyderabad were duped by their employer. The city-based turingminds.ai Infosi violated all laws of the land and threw 800 employees on the road.
The company issued offer letters, gathered security deposits, took loans of Rs 5 lakh to Rs 10 lakh with employees as co-applicants and is now firing them.
The company which runs Insofi and turingminds.ai gave offer letters with the condition that all employees will have to take an education loan of Rs 5 lakh to Rs 10 lakh with the company head as partner for undergoing training in certain courses.
However, later the company said that due to the financial slowdown, they have to pay back their loans and that they had been fired.
The employees were terrified as they had thought that they can pay back the loan with the stipend they would be getting. With their future at stake the employees started negotiating with the employer.
On Tuesday the employer put the condition that they would repay the loan but wouldn’t give any salary for the last one year. They were not being paid salaries since a year.
While the negotiations were going on the police came and threatened the employees. IT associations had demanded that the labour department should step in but instead the police came.
“Police entered the premises of the fraudulent company and asked the employees to keep quiet. It should be the other way round. The labour department should come in and take the employer into custody. This is an unfortunate response from Industries Minister KT Rama Rao,” Kiran said.
“A similar situation existed a decade back. An assembly level task force was constituted in 2012 to tackle fraud companies. The government must have a task force to handle fraudulent companies. Desperation makes unemployed youth to pay money as security deposits turning their families into paupers. This will have a devastating effect on the families,” he said.
