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A final year student has been working as an Intern from June 2023 , as per his request we gave him a pre-placement offer in October 2023 for sep 1st joining, the student has been on a long break, he mentioned he has exams in Feb and then he said they have been postponed to March and now he is saying they are in April. We would like to conclude his internship now and also decided to void his PPO ( As on 1st of April ). This following clause was mentioned in the PPO and they employee signed it. Can we do that and does it allow us to void the PPO now ?

PPO Contingency Clause

The continuation of this offer is subject to the prevailing circumstances and the overall condition of Dobby Ads at the time of your anticipated hiring date. In the event that there are substantial changes in the company's circumstances, we reserve the right to withdraw or modify this offer. It is important to emphasize that, should such changes occur, Dobby Ads will not assume financial responsibility or liability for any related implications or losses.
You've given away your company.

Just looking at the clause, 'in the event there are substantial changes in our company's circumstances' has no relation to the candidate's circumstances - even a long reach to include the continually postponed exams as a 'circumstance' would not hold up. The entirety of the clause has Dobby Ads as the subject, so no, based on this alone, there is no way voidance can be done. Your in house lawyer has shafted you with this clause.

Technically you can do whatever you want to since you lot are based in NY and not India, but at least contact the admin of the college by getting their number from google or college website and confirm if the continuous delays have happened. Pro tip: if under a state university or an NLU, such delays in final exams don't happen.