IIT-B blacklists 9 firms for revoking placements
The Indian Institute of Technology Bombay has blacklisted nine companies, banning them from campus recruitments for a year, for revoking the placement offer given to students from the institute. Unconfirmed reports claim that 31 firms have been blacklisted nationally by the IITs.
Almost 25 students from the IIT-B have been hit because of this. Among the companies blacklisted here were: LeGarde Burnett Group, GPSK, Johnson Electric China, Portea Medical, Peppertap, LexInnova, Mera Hunar, Cashcare Technologies, and IndusInsight.
The placement cell of the institute said most of these companies were start-ups and revoked their offers citing internal restructuring. “Most of the companies gave internal re-structuring or losses as the reason of either revoking the offer or deferring the joining dates. Most of them are the start-ups but still a few of them are well established firm,” a placement cell representative said.
From the nine companies six revoked their offers, including online grocery start-up Peppertap which is shutting down operations. One of the companies, LeGarde Burnett revoked the offer and was allegedly discovered to be a fake company, missing a proper office address. Two companies, LexInnova and IndusInsight were blacklisted as they pushed back the joining date of students.
As of now there has been no legal action against the companies. Taking cognizance of the issue, the placement team has decided to conduct a background check on companies, including funding and other aspects, before allowing them to conduct campus recruitments.
Nationally, the placement panel for campus hiring across 23 IITs of the country have blacklisted 31 firms, mostly start-ups, due to several complaints against them, reports said.
