IIT Delhi taps alumni for funds, asks them to leave assets for institute in their will

New Delhi, July 29, 2018: The Indian Institute of Technology, Delhi (IIT-D) has urged its alumni to donate a part of their assets to the institute in their will. According to a report by The Indian Express, Sanjeev Sanghi, Dean, Alumni Affairs at IIT-D said that they have been requesting the alumni, particularly the ones coming for the Golden Jubilee celebrations, to leave something for the institute. As of now, the Institute has received a positive response from two of its almuni according to reports published in financialexpress.com

Ram Matta, from the 1976 batch, was planning to leave something for the Stanford University in his will. But after receiving the letter from Delhi, he has decided to contribute the amount to IIT-D. However, he has not mentioned how much he will leave behind.

Meanwhile, another alumnus, Ramesh Kapur from the 1968 batch, said that he would leave one million dollars for the institute. “Both of them are NRIs living in the US. It probably works out better for them because according to their inheritance rules, after a particular amount, if you give your money to your children, it’s taxed at 80 per cent,” Sanghi was quoted as saying in the report.

Apart from this, Kapur has also pledged Rs 2.4 crore for scholarships for those coming from financially deprived backgrounds.

Another alumnus, Amarjeet Bakshi from the 1968 batch, donated Rs 1 crore to IIT Delhi this year and has promised to do it for the next 10 years as well. Saurabh Mittal, based in Singapore, has pledged to give Rs 10 crore for an indoor stadium.

The institute is also in the process of setting up an ‘Alumni Endowment Fund’.

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