A school that adopts underprivileged children and run by the IIM-Ahmedabad Alumni Association (IIMAAA) Hyderabad Chapter Charitable Trust has received funding to the tune of Rs.4.55 crore from the Coromandel International Limited, a part of Murugappa Group.
The money would be used to create a corpus and to meet the expenses in maintaining and running of ‘Udbhav School’ in Rasoolpura in Secunderabad.
Over 600 underprivileged children belonging to economically weaker sections of society are being provided education in this school.
A MoU to this effect was signed by Kapil Mehan, Managing Director - Coromandel International Ltd. and Shiv Rungta of IIMAAA Hyderabad Chapter Charitable Trust in the presence of A. Vellayan, Chairman, Coromandel International Ltd.
As per the MoU, a new common trust would be created by both the parties in which Coromandel International would contribute Rs. 3.5 crore and an equal amount would be contributed by IIM- AAAHC.
Meanwhile, the Coromandel International Limited will also support with Rs.35 lakh per year for a period of three years.
The quality of teaching, state-of-the-art infrastructure and holistic education for an all round development of children would be the key focus areas.
