700 Jobs Gone Overnight As Pune IT Firm Shuts Down, CEO Arrested Over Salary Fraud

Pune-based Thynk Technology India is said to have closed shop without any prior notice, with over 700 employees, including software professionals, freshers and interns. With the sudden closure, allegations of unpaid wages, bounced cheques, and financial irregularities have come to light, leaving hundreds of employees in a lurch about their future. Things went from bad to worse when police arrested the company’s chief executive officer on charges of criminal breach of trust and cheating. This comes after several complaints from employees who say they were not paid and did not get any official communication about the company’s closure.

Multiple Complaints Lead To Police Action

According to officials from the Hinjewadi police station, the case was initiated after a 25-year-old intern filed a complaint. Authorities said that more than 30 employees and interns have since approached police with similar allegations against the company. Investigators have also booked the company’s head of training and development, along with a human resources manager. Police are now examining the roles played by senior management in the alleged misconduct and financial dealings of the firm.

Workers Say Office Shut Down Without Warning

Several employees claim the company stopped functioning in April without informing its workforce.  Many said they arrived at the office only to find it locked, with claims that attempts to contact management were ignored. Former staff said they could not access the workplace, collect their pending salaries, or get any clarification on their employment status. The sudden closure of company operations reportedly left hundreds of employees struggling to understand what had happened.

#ThynkTech owner who scammed 700+ Fresher’s is finally arrested by #Hinjawadi police after #FiteForums collective efforts on same .
We urge employees to come forward and report such scams . pic.twitter.com/0hEUqxaTyz

— Forum For IT Employees – FITE (@FITEMaharashtra) June 3, 2026

The company, allegedly set up in 2025, is accused of collecting a security deposit of Rs 15,000 from employees and interns for laptops or onboarding-related requirements. Initially, salaries and stipends were paid on time, but payments stopped from January 2026 onwards, the workers claim. Employees also claim that cheques issued to clear outstanding dues later bounced. The alleged failure to honour payments has fuelled concerns over the company’s financial health and raised questions over how the employee funds were handled.

Management Repeatedly Promised

Ex-staff told the ex-workers that the delay in salary was due to internal audits and funding issues. Employees said management assured them that the pending payments would be released soon but the assurances were not fulfilled. Some of the interns have also alleged that they have not received the laptops promised during onboarding, nor the stipends offered as part of their training programmes. These allegations have become a key feature of the ongoing investigation.

Police Probe Financial Transactions And Recruitment Practices

Employees who have been impacted have approached Pune Police for intervention and help in recovering dues on April 20. Several people have also reportedly registered complaints with labour authorities against the company’s conduct.

The police are probing allegations of siphoning of employee security deposits to meet operational costs, and reports of the company hiring new candidates even as salary liabilities and financial difficulties mounted. The investigation into the company’s operations and financial transactions is underway.

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