IT Manager in Mumbai Under Investigation for Corporate Fraud

A senior manager at an IT firm in Mumbai's Powai district has been accused of corporate fraud totaling Rs 10 crore, according to local authorities. The individual in question, Amit Arvind Shah, reportedly utilized confidential company data and resources to establish a competing firm in his son's name.

The complaint, filed by company director Ambi Malyakal, alleges that Shah leveraged the company's internal systems to propose deals to existing clients under the new firm. Suspicion arose from Shah's declining performance, prompting a forensic audit that unearthed the misuse of company assets.

Preliminary investigations suggest that Shah, together with his son, operated the rival business using the complainant company's equipment and confidential data. As a result, significant financial losses were incurred. Authorities are now conducting a detailed probe based on digital evidence gathered from the company's systems.