The biggest venture of the taxi world, Ola has issued an internal corruption probe of fraud amounting to million of dollars against human resources head and chief administrative officer Yugantar Saikia
Saikia has been asked not to report for work and the company has seized several items including documents and laptop.
The reports says, Ola has hired ‘Big Four’ audit firm to lead the internal probe.
“This must have been going for at least two years, hundreds of new hires every year. I estimate annual monies earned through recruitment alone to be at least Rs 5-6 crore. And this is just the fees paid to am outfit created for the purpose”. Someone from the reports added.
The estimated value of fraud could be estimated to a few million dollars. Meanwhile company has started a clean up drive to revamp the process.
Saikia had an overall experience of 16 years, during which he led the India operations at FICO for customer growth managing M & A integration and setting up the APAC landscape for the company.
Ola spokesperson confirmed “There is an internal investigation which is currently on and one cannot give further details at the moment”.
Yugantar is an alumnus of XLRI, Jamshedpur