No No academic is all about "memorizing and vomiting", it should not be included as a screening eligibility as per my understanding. There are students who are logically good, I believe companies need only those who who are logically good and not those who just memorize things.
There are companies which is ready to even select the students with maximum 3 arrears.
A resume will tell about his past.
A GD & Interview will tell about his present.