Eight held for abducting IT firm's founder over non-payment of salaries

Hyderabad: Eight persons, who allegedly assaulted and abducted the founder of an IT firm here over non-payment of salaries to employees, were arrested, police said on Sunday.

While three of the accused abducted and confined the IT company founder at a hotel on Srisailam road, the other accused stole laptops among other things from his house and he was subsequently rescued, they said.

In the incident that occurred on the intervening night of July 9 and 10, the eight arrested including a business consultant (prime accused) and software employees, were involved in intentional house trespass, wrongful restraint, abduction, confinement for extortion, intimidation, and theft, police said.

All stolen items, including 84 laptops, four cars, five phones and three passports belonging to the victim and his family, were recovered intact, a release from Hyderabad Police said.

Additionally, two cars and one motorbike belonging to the accused were seized during the investigation, it said.

The mother of the IT firm's founder visited the Jubilee Hills Police station on July 11 and reported the series of events involving her son and his company and recounted how financial troubles had led to the non-payment of salaries to 1,200 employees recruited through consultancies, sparking anger and demands for refunds from affected staff and consultants.

According to her statement, individuals associated with these consultancies assaulted her son and his friend and seized over 80 laptops, and five mobile phones, and threatened her with dire consequences to deter her from reporting the incident.

Subsequently, a case was registered.

The IT firm's founder, in his statement, stated that he founded the company in Gachibowli here, and employed 1,200 personnel through consultancies for a fee.

However, financial difficulties resulted in delayed salary payments, escalating tensions with the consultancies, the complainant said.

The investigation uncovered the involvement of the prime accused in his role in job placements through various consultancies, shedding light on financial transactions and disputes that culminated in the violent events (pertaining to the incident), police said.

Earlier, those affected by the IT firm's founder (complainant of this case) had lodged a complaint at Raidurgam Police Station for the offences of cheating against him on job fraud and it is under probe, the release added.