Mumbai: Two days after a land in Karjat was donated to IIT-Bombay by an alumnus, another alumnus from the 1971 batch has come forward to transfer his land in Coimbatore to the premier institute. The proceeds from the ‘gift’ will be used to create endowment funds to provide scholarships to two IIT-Bombay students.
Praful Dand, a chemical engineer from the BTech batch of 1971, and his wife and co-donor, Chetna Dand, have transferred their land in Coimbatore to the institute. The land will need to be monetised and used as per the request of the donors, said an official. The institute, in a statement on social media, mentioned that the donors deepened their long-standing commitment to student scholarships at the institute through a significant new contribution. It also mentioned that Dand has been continuously supporting the institute since 2011, and that the recent gift will help establish endowments, ensuring lasting opportunities for two students to pursue their dreams at the institute each year.
This is the second such donation in real estate the institute has received this week. Vijay Rajadhyaksha, President of a consulting services, from the 1974 batch, and his wife Meera, also donated their land in Karjat to the institute, and the proceeds from their donation were to be used towards the batch’s legacy project. The institute has been receiving donations in kind over the last few years.
