Lakshman J Rao, Chairman and Managing Director of the Mold-tek group, PGP 1982 has committed to endow and support three cash awards for the top three DML PGP students every year. The alumni has committed to contributing Rs 45 lakhs over three years as an endowment and the interest accrued would be given away as an award to the 1st, 2nd and 3rd placed DML students every year.
The interest earned @ 6% of this endowment shall be used as follows –
- The first scholarship of Rs. 90,000 will be given to the top PGP student of the Director Merit List at the end of the academic year 2019 – 20
- At the end of academic year, 2020 – 21, the first DML topper would get Rs 100,000 and the second placed student will get a cash award of Rs 80,000
- At the end of academic year, 2021-22, the first DML topper would get a cash award of Rs 1,10,000; second placed student will get Rs 80,000 and the third placed student will get a cash award of Rs 70,000 each
- From academic year 2022-23 onwards this scholarship for the first three toppers as above will continue in perpetuity