The amount is not much but good enough to start with. At least, they have started this, let's see how it fares over the years. I know of at least one law institute which is working on something similar and has got funds from alumni despite it being a very young institution in comparison to NLS. They are not actively chasing this but not dropping the ball altogether on this too. These things take time, instead of criticizing NLS, see what your law school can learn from this and how it can move forward on this.
They should give it to somewhere it will be appreciated and used well (foreign law schools/think tanks in India) rather than a thankless Indian University, which will probably waste the money.
It's their money, they may fund it wherever they may see fit. The link directs to a site where NLSIU is thanking the Alumni for the funds and you're referring to them as thankless, such an irony. I'm pretty sure it's your jealousy talking rather than your own self. :)
Actually, several NLUs have scholarships instituted by alumni of cumulative value far greater. Donation for infra too. Not everyone is interested in beating their own drums in a crass exhibition.
The link directs to a site where NLSIU is thanking the Alumni for the funds and you're referring to them as thankless, such an irony. I'm pretty sure it's your jealousy talking rather than your own self. :)