Mumbai and Bengaluru, Sept. 18 -- The unraveling at Gameskraft Technologies is bringing up comparisons with the Satyam saga: concentrated power, falsified documents, and weak checks and balances. The Bengaluru-based gaming firm, once valued at over Rs.17,000 crore, has accused its former chief financial officer Ramesh Prabhu of siphoning off more than Rs.250 crore over five years.

The allegations come amid a churn of independent directors, questions over the role of its auditor, and the government's recent ban on real-money gaming.

Between 2021 and 2022, four independent directors resigned from the company's board within months of joining. One quit within a month. This includes Rajesh Lohia and Umesh Kumar Ram. The two had took office o...