More than 700 employees of Pune-based IT firm ThynkTech India were left without jobs after the company allegedly shut operations abruptly, locking staff out of offices and leaving them struggling to recover unpaid salaries and deposits, according to multiple reports on June 4, 2026.
Police have arrested the company’s CEO, Harshal Thakre, as part of an expanding investigation into alleged financial irregularities and cheating linked to the sudden closure of the firm, located in Pune’s Hinjewadi IT hub. The case came to light after a 25-year-old intern filed a complaint, prompting police to widen the probe into the company’s finances and operations.
More than 30 additional employees and interns have since approached the police with similar complaints, including allegations of unpaid salaries, withheld stipends, and failure to return money collected from workers. According to complaints, the company allegedly collected security deposits of around ₹15,000 from workers and interns, claiming the amount was needed for official laptops and equipment.
Staff said salaries and stipends were initially paid on time, which built confidence among employees, before payments reportedly stopped altogether from January 2026. Several employees alleged the company later issued cheques against pending dues, but many of those cheques bounced, raising further concerns about its financial condition before operations were suspended.
The collapse adds to a difficult stretch for India’s IT workforce, which has absorbed sustained job losses through 2025 and 2026. It also raises questions about recourse for employees of smaller firms when an employer shuts down without notice, particularly around recovery of dues and deposits under existing labour protections.
Police said the investigation is ongoing and that additional financial records and transaction details are being examined. What to watch: whether affected employees recover pending dues, and how the wider probe into the firm’s finances develops.
