The Indian Institute of Management Calcutta faculty council has decided to move high court challenging the legitimacy of the IIMC board meeting held on March 26.
At the faculty council meeting held on Tuesday, the faculty of the institute questioned the legality of some nominated members to the board and the resolution was adopted consequently.
The IIM Controversy: Complete Coverage
The faculty claimed that the induction of four members prior to the board meeting on March 26 was illegal and hence all decision taken at the board meeting were illegitimate.
It maybe mentioned that the board meeting on March 26 had informally decided to go in for a fee cut and the chairman, Y C Deveshwar was entrusted with task of wording the resolution.
The faculty council meeting also decided to keep the fee structure for the next batch, starting June 2004, at the same level of last year.
However, if on a later date subsequent to dialogue with the ministry of human resources department or Supreme Court judgement, the fee was reduced, the excess amount would be refunded to the students with interest at the of State Bank of India term deposit.
The faculty would also request the MHRD to include it in the dialogue process. A three-member committee would be formed comprising two members from the faculty and one alumnus, would be formed for the purpose.
The council also recommended to the director that the grant of Rs 4 crore (Rs 40 million) promised by MHRD to offset losses for the fee cut, to keep in a separate account and not to utilise till the matter was resolved either by dialogue with MHRD or Supreme Court judgement.
The IIM-C resolution stated the reduction in fee would be equal to the amount of subsidy provided by the ministry through funding.
It was based on the assurance given by the ministry that the financial consequences of implementing the order would be fully funded by the government and would not adversely impact the institute's plans to develop world-class teaching and learning infrastructure.