The Indian Institute of Technology Bombay (IIT Bombay) has blacklisted nine start-up companies for a year from doing any kind of recruitment on the campus. These nine companies are among the 31 firms which have been barred from recruiting IIT students across India. The main reason for this drastic decision attributes to the rampant violations of recruitment terms and complaints against these companies. These companies had recruited students by visiting the campuses. However, during the 2015-16 placement seasons, the companies made last-minute changes to their original offer. As a result of this, many students joined the companies after considerable delay. Moreover, some of these companies used fake office addresses on the offer letter.
The All India Placement Committee (AIPC) on August 14 had blacklisted 31 companies. However, the names of nine companies have been revealed by IIT Bombay since they are banned from doing any kind of campus recruitments.
Commenting on the development, Prof Kaustubha Mohanty, the convener of the placement committee revealed that the action against these companies is taken in the interest of students across India. We just donâ€™t want these companies to migrate to another IIT and do similar recruitments. Hence, we have released the names and circulated them to all IITs.
Source of funds among others to be produced
Mohanty further disclosed that the placement cell would now be collecting crucial data on the companiesâ€™ sources of funding, statements of accounts, balance sheets and the existing number of employees. Even though the IIT do ask for details, it is just for the casual purpose. We had trusted the companies but they have played a game with our valuable students. After one year, these nine companies will have to undergo intense scrutiny before they are allowed to recruit students again.
25 students affected by the IIT Bombay ban
As many as 25 students from IIT Bombay are affected by the ban on these nine firms. The premier institute said that it would be more careful with companies, particularly start-ups. They also warned other companies. Students prepare themselves both physically and mentally during the whole interview process. If the offers are revoked at the last minute, it affects the morale of students.
Responding to media, Dipesh Chauhan, placement manager at IIT Bombay said that new start-ups would be allowed after a good background check. They should have proper funding system in place. Moreover, the placement cell will also verify the growth prospects of the students who join a start-up.
No red carpet for Flipkart this year
In the meantime, the placement cell also decided that Flipkart would not be given the first-day slot in the upcoming admission season. This is because Flipkart had delayed the appointments by a few months in 2015.
List of blacklisted companies followed by reason for blacklisting in braces
- GPSK, Johnson Electric (China), Portea Medical, Peppertap and Cashcare Technologies (Revoked offers)
- LexInnova and IndusInsight (delayed joining dates)
- LeGarde Burnett Group (revoked offer and improper office address)
- Mera Hunar (registered with one name but offered appointments for another startup)
The lists of all companies who have been blacklisted are yet not revealed. However, individual IITs are releasing the company names they wish to blacklist.