It has been alleged one of the top senior executives of the cab aggregator Ola, has been involved in corrupt practices. It is said Ola ordered a probe into the allegations estimated to be running into millions of dollars. Ola’s Head of Human Resources and Chief Administrative Officer Yugantar Saikia is currently being investigated. Yugantar is accused of allegedly favouring the vendors and receiving kickbacks in return.
Yugantar’s work assets including his laptop have been seized by the company. Ola further asked Yugantar not to report for work. As per a report from Ola, it is known a Big Four audit firm has been roped in to assist with the investigation. The Big Four are the four largest professional services networks in the world offering audit, assurance services, taxation, management consulting, advisory, actuarial, corporate finance and legal services.
Yugantar said he has not been notified of any actions taken by the company. Ola said,”There is an internal investigation which is currently on and one cannot give further details at the moment.” Yugantar is said to have left the company and was serving his notice period when he was abruptly asked to leave. It is said the fraud has been ongoing for at least two years and on not only recruitment but also could involve procurement, administration and IT. The estimated value of the fraud could be around a few million dollars.
