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In force

The Indian Institute of Management Act, 2017

38 sections · As amended up to 2026-08

Sections

  1. I — PRELIMINARY
  2. 131st January, 2018, vide Notifn. No. S.O. 149(E), dated 11th January, 2018, see Gazette of India, Extraordinary, Part II, s. 3(ii)
  3. VI — MISCELLANEOUS
  4. 2IIMs provide post-graduate, doctoral, post-doctoral and research education in the field of managemen
  5. 3While, the Post-graduate Diploma in Management programme (equivalent to MBA) was relatively unaffect
  6. 4In view of the above, it becomes necessary to have a Central Legislation, namely the Indian Institut
  7. 5The Indian Institutes of Management Bill, 2017 inter alia provides for the following, namely:
  8. 6The Bill seeks to provide the twenty existing IIMs independent statutory status with uniform governa
  9. 7The Notes on clauses explain in detail the various provisions contained in the Indian Institutes of Management Bill, 2017
  10. 8The Bill seeks to achieve the above objectives
  11. II — THE INSTITUTES
  12. 9Institute to be not-for-profit legal entity
  13. III — THE AUTHORITIES OF INSTITUTES
  14. 10Board of Governors
  15. 10AVisitor
  16. 11Powers and functions of Board
  17. 12Term of office of, vacancies among, and allowances payable to members of Board
  18. 13Resignation of Chairperson
  19. 14Academic Council
  20. 15Power and functions of Academic Council
  21. 16Director
  22. 18Custodian of records, etc
  23. 19Role of members of Society
  24. 20Committees and other authorities
  25. IV — ACCOUNTS AND AUDIT
  26. 21Grants by Central Government
  27. 22Fund of Institute
  28. 23Accounts and audit
  29. 24Books of account to be maintained by Institute
  30. 25Appointment of auditors
  31. 26Annual report of Director
  32. 27Board to consider statement of accounts
  33. 28Annual report of Institute
  34. V — COORDINATION FORUM
  35. 29Establishment of Coordination Forum
  36. 30Functions of Coordination Forum
  37. VI — MISCELLANEOUS
  38. 31Acts and proceedings not to be invalidated by vacancies, etc
  39. 32Return and information to be provided to Central Government
  40. 33Institute to be public authority under Right to Information Act
  41. 34Power of Central Government to make rules
  42. 35Power to make regulations
  43. 36Ordinances how made
  44. 37Rules and regulations to be laid before Parliament
  45. 38Power to remove difficulties