Letter of Intent vs Offer

Though the situation is very unpleasant especially for fresh graduates from IIT, however looking at the economic situation, what is been done was inevitable by Infosys.
Infosys as a company enjoys the best employer brand image, and with them dissolving the letter of intent given out to the students, will not hamper their image much. Its simply for the reason, first, the students were given the "Letter of Intent" and not the "Offer Letter" and second the entire world is going through a recession and Infosys is owning up of being affected by recession.

Thus the statement made by Infosys spokesperson "that Infosys had not really cancelled any job offers since what they had given to the students was only "Intent of Offer", stands corrected as the "LOI" is an agreement which is not enforceable in the court of law. Basically a document illustrating the willingness of the employer to hire the candidate but may or may not turn into successful hiring.