IIT-B bans 9 startups for revoking, delaying placement offers

Mumbai, Aug 25 (PTI) Premier tech school IIT Bombay todayblacklisted nine companies including startups like PorteaMedical and Chinese firm Johnson Electric from placements forone year as a penalty for a variety of violations like,revoking the offers to some of its graduates. The action follows a controversy over a host of companies,majorly startups finding the going tough, either revoking theoffer letters or delaying joining dates which have impactedstudents. Online pharmacy player Portea, which has reportedly raisedUSD 46.5 million in two rounds, has been blacklisted for oneyear for revoking an offer, the school said in an officialstatement. Similarly, the NCR-based Peppertap that was into grocerysales, has also been penalised for revoking offers. Johnson Electric of China has also been penalised forrevoking offers. Others who faced action for revoking offers include GPSKand Cashcare Technologies, the statement said. For delaying the joining dates of the selected candidates,consulting companies IndusInsight, and the Houston-basedAmerican company LexInnova have been barred from placementsfor a year, it said. A company named LeGarde Burnett Group was also blacklistedfor both revoking an offer and after it was found "fake" withno proper office address, it said. Another company Mera Hunar was found to have come up witha different name and hired students for another startup, whichattracted the penal action of one year. It can be noted that since IITs have a centralisedplacement panel called the All IITs Placement Committee and inall likelihood, the action by IIT-Bombay will automaticallybar the startups from approaching any of the IITs in thecountry for placements next year. PTI AA BEN DKABK