This news at Linux Delhi's site made me chuckle:
Two school students, Avneesh Chhabra (15) and Shivaas Gulati (15) designed a Hindi Devanagri font for an inter-school contest. They won the event, received assurances from Microsoft that the Seattle-based company may be interested in licensing the fonts from them, and then, on 25 November 2002, decided nevertheless to publish the fonts under the freedom-based Lesser Gnu Public License (LGPL).
The Inter-School contest was MODEM 2002 - I was there to conduct a quiz. The Font Design event was being held for the first time. The objective was to make an ITRANS mapped Unicode Hindi Font and it was quite exciting to see the entries, and the approaches used. Some guys had actually scanned and vectorized Hindi characters written with pencil on paper. Some entries looked like hacks of presently available stuff.