Memorandum of Understanding
Samskruti College of Engineering and Technology, Kondapur,Ghatkesar,Medchcal Dist.,
Akshaya Solar power (INDIA) Pvt. Ltd
This Memorandum Of Understanding is entered into this 08th March 2017 by and between Samskruti College of Engineering and Technology,Kondapur, Ghatkesar, Medchal Dist., an academic institute established in 2005, under St.Vincent Educational Society, registered with Society registration act no. 53 of 1950, registration no. 5782/2000 , having its registered office at Plot No.94, Meenakshi Bamboos, Gachibowli, Serilingampally, Hyderabad (hereinafter referred to as “the Institute”). And Akshaya Solar Power (India) Pvt.Ltd ,Hyderabad A Pvt. Ltd. Company incorporated under the Companies Act 1956 having its registered office at Hyderabad (hereinafter referred to as “the Industry”).
- Samskruti College of Engineering and Technology, Kondapur,Ghatkesar,Medchal Dist, Telangana State is an academic Engineering Institute, providing education in area of Engineering, Technology, and Management.
- M/s Akshaya Solar Power (India) Pvt.Ltd ,Hyderabad, is in the business of manufacturing Solar panels.
- The purpose of this M.O.U is with reference to exploring the areas of cooperation, benefiting both the Institute and The Industry.
Areas of Cooperation
- To impart placement opportunities by the Industry.
- To facilitate regular interaction between the faculty and student of the institute and the workforce of the Industry.
- The Institute and the Industry shall explore the possibilities of mutual support in their learning, hiring and research requirements based on mutual convenience.
- Confidentiality : Each party shall maintain complete confidentiality of any information of the other, disclosed during the term of this M.O.U.
- In no event shall either party be liable for any indirect, incidental, special, consequential damages, including, but not limited to, loss of profits, revenue, data or use, incurred by the other party in connection with, arising out of under this M.O.U save for any such loss suffered resulting from any wilful and grossly negligent act or omission of either of the parties.
- Neither this M.O.U., nor any activities described herein, shall be construed as creating a partnership, joint venture, agency or other such relationship. Both parties agree that this M.O.U represents a nonexclusive relationship between the parties and nothing contained here in shall preclude either party from participating/initiating similar relationship with third parties.
- This M.O.U. may not be amended without the prior written consent of both parties.
- This M.O.U. will be effective for two years from 08-03-2017. This Agreement can be renewed based on mutual convenience.
- Termination: Either party can cancel or terminate this Agreement unilaterally (and without reason) , by giving an advance written notice of one month to the other.
- Indemnity : Each of the parties shall defend indemnify and hold the other party harmless from and against any claim, liability, loss, costs or expenses (Including reasonable Attorney’s fees) arising out of or resulting from the material breach of the provisions here in IN WITNESS WHEREOF THE parties have set their hands hereto on the day and year first hereinabove written under their respective seal of office.