Pune IT sector under scrutiny: 5th firm shuts in 8 months, 5,000 lose jobs

Key points

• Pune’s IT sector is under increased scrutiny, with five firms closing in just eight months.
• About 4,000-5,000 employees have been left without jobs in the city, raising concerns about regulatory oversight in the industry.
• The latest one, Thynk Tech India OPC Pvt Ltd, is based in Hinjewadi, one of Pune’s largest IT hubs.
• According to the police, the firm’s owner and CEO, Harshal Thakare, has been arrested on charges of cheating employees and interns.
• The firm shut down overnight, leaving over 700 employees without a job.