Do academic marks matter at all in summer placements in NITIE, Mumbai?

According to my friends studying at NITIE Mumbai, there are many important points regarding academics and summer placements:

• Many companies come for placements and summer internships. 
• Your marks or skills are determined by the company.
• There are several companies that fix a cutoff criterion to take part in their placement process. The candidates above the cut-off need not worry about the marks.
• Some companies have strict HR policies in which academics are given more preference. The more your grades are the better chance you have of making it through. 
• Academics and personality are given more leverage.
• Some companies don’t have any HR policies at all. They just give a guideline regarding the placement process to be kept short. 
• They also use a cutoff method (2 points) at least.

The candidates having low grades or academic performance can try for their placement with the Student Placement Committee. This helps to push your CV through the cutoff.