We are working for a company VMC Systems Ltd,Hyderabad.They have not paid salaries on an average for 12 months,nor vendors and have more than 20 cases of cheque bouncing.They have taken more than 1000 Cr loans from banks and yet not paying salaries,PF and Income tax which was deducted from the employees salaries.Even after lodging FIR with police department no action has been taken.There are 30 cases against them filed in the court.There are more than 100 employees suffering and their career and family life has gone haywire.Presently we are 23 employees suffering though we have penned down our work but not resigned.If we put a case in the court it is going to take lot of time.This company has taken loans from different banks and we are surprised why the banks are keeping quiet.They bribe the cops and as usual court cases are prolonged.
Latest is they have issued Post dated cheques for 50% of the salaries dated 31st December 2015 drawn in favour of Andhra Bank.When enquired from Andhra Bank we have come to know that this company owes 266 cr to the bank and the account is non operational for the last 2 years and isno balance account.This is a big scam similar to Satyam and we are surprised why Sibel is not involved.
We request the Telangana Govt to look into the matter so that people suffering is minimised. more
Latest is they have issued Post dated cheques for 50% of the salaries dated 31st December 2015 drawn in favour of Andhra Bank.When enquired from Andhra Bank we have come to know that this company owes 266 cr to the bank and the account is non operational for the last 2 years and isno balance account.This is a big scam similar to Satyam and we are surprised why Sibel is not involved.
We request the Telangana Govt to look into the matter so that people suffering is minimised. more
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all these are due to poor monitoring system managed by inefficient persons who have successfully made inroads into vital positions of administarion not based on merits. Inefficiency breeds corruption more
Oct 02
(1) What the poor employees & families will eat, if their salary cheques get bounced? Will they be alive till comming up of the justice? (2) Government support and higher-up enquiry like CBI is necessary for the critical cases like this. But both of them will remain busy in political revenges. (3) These types very serious consequences will pop up many more in the near future, since foreign investment only in a few selected places and sinking of other parts & sectors of the nation. (4) This will generate only temporary jobs at the selected urbans and overall economy will sink to recessment. (5) It is very essential for the people of India to foresee this, wake up and act now. more
Oct 01
If development takes place without curbing black money and corruption, the occurrence of such instances will be on the uphill. more
Sep 30
Dear Anonymousji, Yours is not the only company. There are many many more like this throughout India. Now with reduced bank rates, reduced corporate tax and free land bestowed on them they will will spring up like mushrooms in the coming days. more
Sep 30
