The abrupt shutdown of Noida-registered IT startup ThynkTech India OPC Pvt Ltd (operating locally as Thynk Technology India) has sent shockwaves through Hinjewadi Phase II, leaving over 700 software engineers, fresh graduates, and interns suddenly unemployed.
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The overnight closure has triggered intense investigations into widespread corporate governance and recruitment fraud.
ThynkTech Sealed Doors and Bounced Cheques
Employees arriving at the Hinjewadi office were shocked to find the premises locked and a legal notice taped to the glass entrance.
The building’s property owner had sealed the facility due to non-payment of rent, utility bills, and maintenance charges accumulated since March.
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The closure followed months of growing anxiety among the workforce. Salaries due from February 2026 onwards had been withheld.
Management initially pacified employees by blaming the delays on “internal financial audits” and funding processes.
To resolve the mounting friction, Chief Executive Officer Harshal Bhaneudas Thakre issued salary cheques during a brief online emergency meeting.
However, those cheques were subsequently dishonoured when employees attempted to encash them, escalating the financial distress.
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The “Onboarding Security” Scam
The unfolding crisis has unmasked predatory recruitment practices targeted at vulnerable recent graduates from smaller towns.
During extensive campus drives across various universities in 2025, candidates were lured with promises of a ₹15,000 monthly stipend during training.
This initial training would lead to a package of ₹5.5 lakh per annum upon completion.
However, the company mandated that each recruit deposit a “security fee” of approximately ₹15,000 to cover company-issued laptops and office equipment.
Weeks before the final shutdown, management collected nearly 80% of these laptops under the pretext of switching to a new vendor.
This equipment was never returned to the staff.
CEO Detained as Authorities Step In
Following mass complaints filed by the affected workforce and the Forum of IT Employees (FITE), law enforcement acted swiftly.
The Hinjewadi Police registered a comprehensive criminal case for cheating and financial irregularities.
They subsequently tracked down and detained CEO Harshal Thakre in Nashik.
The company’s head of training and development, along with an HR manager, are also named in the investigation.
Concurrently, the Maharashtra Labour Commissioner’s office has launched a formal review into the wage defaults and unlawful recruitment structures.
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About the Author
Sahiba Sharma
Contributing Writer