The Indian Institute of Management Act, 2017
Administered Ministry: Ministry of Education / Department of Higher Education
Section
Section 20 Committees and other authorities.
(1) The Board may, constitute such committees and other authorities of the Institute and specify the duties and functions of each such committees and authorities by regulations.
(2) The Board may constitute such ad hoc committees as it may deem fit, for proper management of affairs of the Institute.
(2) The Board may constitute such ad hoc committees as it may deem fit, for proper management of affairs of the Institute.
Section 21 Grants by Central Government.
For the purpose of enabling the Institutes to discharge their functions efficiently under this Act, the Central Government may, after due appropriation made by Parliament by law in this behalf, pay to every Institute such sums of money in such manner as it may think fit.
Section 22 Fund of Institute.
(1) Every Institute shall maintain a Fund to which shall be credited—
(a) all moneys provided by the Central Government;
(b) all fees and other charges received by the Institute;
(c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers;
(d) all moneys received by the Institute from utilisation of intellectual property arising from research conducted or rendering advisory or consultancy services by it; and
(e) all moneys received by the Institute in any other manner or from any other source.
(2) All moneys credited to the Fund of every Institute shall be deposited in such banks or invested in such manner as may be laid down by the Board by regulations.
(3) Each Institute shall create a corpus fund for long term sustainability of the Institute, to which shall be credited such per cent. of the net income of the Institute and donations made specifically towards such corpus fund as the Central Government may in accordance with the provisions of the Income tax Act, 1961 (43 of 1961), notify:
Provided that the Board may also create endowment funds for specific purposes to which donations may be specifically made.
(4) The fund of any Institute shall be applied in such manner and for such purposes as may be specified by the regulations.
(a) all moneys provided by the Central Government;
(b) all fees and other charges received by the Institute;
(c) all moneys received by the Institute by way of grants, gifts, donations, benefactions, bequests or transfers;
(d) all moneys received by the Institute from utilisation of intellectual property arising from research conducted or rendering advisory or consultancy services by it; and
(e) all moneys received by the Institute in any other manner or from any other source.
(2) All moneys credited to the Fund of every Institute shall be deposited in such banks or invested in such manner as may be laid down by the Board by regulations.
(3) Each Institute shall create a corpus fund for long term sustainability of the Institute, to which shall be credited such per cent. of the net income of the Institute and donations made specifically towards such corpus fund as the Central Government may in accordance with the provisions of the Income tax Act, 1961 (43 of 1961), notify:
Provided that the Board may also create endowment funds for specific purposes to which donations may be specifically made.
(4) The fund of any Institute shall be applied in such manner and for such purposes as may be specified by the regulations.
Section 23 Accounts and audit.
(1) Every Institute shall maintain proper accounts including income and expenditure statements, internal audit report and statement audited by internal auditor specifying investments and other relevant records and prepare annual statement of accounts including the balance sheet in such form and as per such accounting standard as may be specified by notification by the Central Government in consultation with the Comptroller and Auditor-General of India.
(2) Where the statement of income and expenditure and the balance sheet of the Institute do not comply with the accounting standards, the Institute shall disclose in its statement of income and expenditure and balance sheet, the following, namely:—
(a) the deviation from the accounting standards;
(b) the reasons for such deviation; and
(c) the financial effect, if any, arising out of such deviation.
(3) The accounts of every Institute shall be audited by the Comptroller and Auditor-General of India and any expenditure incurred by audit team in connection with such audit shall be payable by the Institute to the Comptroller and Auditor-General of India.
(4) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the Institute shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the audit of the Government accounts and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the offices of the Institute.
(5) The accounts of every Institute as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before each House of Parliament in accordance with such procedure as may be laid down by the Central Government.
(2) Where the statement of income and expenditure and the balance sheet of the Institute do not comply with the accounting standards, the Institute shall disclose in its statement of income and expenditure and balance sheet, the following, namely:—
(a) the deviation from the accounting standards;
(b) the reasons for such deviation; and
(c) the financial effect, if any, arising out of such deviation.
(3) The accounts of every Institute shall be audited by the Comptroller and Auditor-General of India and any expenditure incurred by audit team in connection with such audit shall be payable by the Institute to the Comptroller and Auditor-General of India.
(4) The Comptroller and Auditor-General of India and any person appointed by him in connection with the audit of the accounts of the Institute shall have the same rights, privileges and authority in connection with such audit as the Comptroller and Auditor-General of India has in connection with the audit of the Government accounts and, in particular, shall have the right to demand the production of books, accounts, connected vouchers and other documents and papers and to inspect the offices of the Institute.
(5) The accounts of every Institute as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be forwarded annually to the Central Government and that Government shall cause the same to be laid before each House of Parliament in accordance with such procedure as may be laid down by the Central Government.
Section 24 Books of account to be maintained by Institute.
Every Institute shall keep proper updated books of account with respect to—
(a) all sums of money received and expended by it and the matters in respect of which receipt and expenditure takes place;
(b) the assets and liabilities of the Institute;
(c) the properties, movable and immovable of the Institute.
Explanation.—For the purposes of this section, if books of account give a true and fair view of the state of affairs of the Institute and its transactions, it shall be deemed as proper books of account with respect to the matters specified therein.
(a) all sums of money received and expended by it and the matters in respect of which receipt and expenditure takes place;
(b) the assets and liabilities of the Institute;
(c) the properties, movable and immovable of the Institute.
Explanation.—For the purposes of this section, if books of account give a true and fair view of the state of affairs of the Institute and its transactions, it shall be deemed as proper books of account with respect to the matters specified therein.
Section 25 Appointment of auditors.
(1) The Board of every Institute shall, prior to the end of every financial year, and without prejudice to the provisions contained in the Comptroller and Auditor-General's (Duties, Powers and Conditions of Service) Act, 1971 (56 of 1971) or any other law for the time being in force containing provisions for audit of accounts by the Institutes, appoint such auditors including the internal auditor, on such remuneration as it thinks appropriate, to scrutinise the balance sheet and the statement of income and expenditure of such Institute:
Provided that the Board shall change the auditors after every four years.
(2) The Board of every Institute shall constitute an Audit Committee to provide an expert advice on effectiveness of internal control system, risk management and audit report to the Board.
(3) The auditor appointed under sub-section (1) or any person employed by him shall not have any direct or indirect interest, whether pecuniary or otherwise, in any matter concerning or related to the administration or functions of the Institute.
Provided that the Board shall change the auditors after every four years.
(2) The Board of every Institute shall constitute an Audit Committee to provide an expert advice on effectiveness of internal control system, risk management and audit report to the Board.
(3) The auditor appointed under sub-section (1) or any person employed by him shall not have any direct or indirect interest, whether pecuniary or otherwise, in any matter concerning or related to the administration or functions of the Institute.
Section 26 Annual report of Director.
(1) There shall be attached to every statement of accounts laid before the Board of each Institute under section 27, a report, by its Director, with respect to—
(a) the state of affairs of such Institute;
(b) the amounts, if any, which it proposes to carry to any surplus reserves in its balance sheet;
(c) the extent to which understatement or overstatement of any surplus of income over expenditure or any shortfall of expenditure over income has been indicated in the auditor's report and the reasons for such understatement or overstatement;
(d) the productivity of research projects undertaken by the Institute measured in accordance with such norms as may be specified by the Board;
(e) appointments of the officers and faculty members of the Institute;
(f) performance indicators and internal standards set by the Institute, including the nature of innovations in teaching, research and application of knowledge.
(2) The report of the Director shall also include a statement showing the names of the five officers including faculty members and other employees of the Institute who received the highest remuneration (including allowances and other payments made to such employees) during the financial year and the contributions made by such employee during the financial year.
(3) The statement referred to in sub-section (2) shall indicate whether any such employee is a relative of any member of the Board or Academic Council of the Institute and if so, the name of such member; and such other particulars as may be determined by the Board.
(4) The Director shall also be bound to give the complete information and explanations in the report referred to in sub-section (1) on every reservation, qualification or adverse remark contained in the auditors' report.
(a) the state of affairs of such Institute;
(b) the amounts, if any, which it proposes to carry to any surplus reserves in its balance sheet;
(c) the extent to which understatement or overstatement of any surplus of income over expenditure or any shortfall of expenditure over income has been indicated in the auditor's report and the reasons for such understatement or overstatement;
(d) the productivity of research projects undertaken by the Institute measured in accordance with such norms as may be specified by the Board;
(e) appointments of the officers and faculty members of the Institute;
(f) performance indicators and internal standards set by the Institute, including the nature of innovations in teaching, research and application of knowledge.
(2) The report of the Director shall also include a statement showing the names of the five officers including faculty members and other employees of the Institute who received the highest remuneration (including allowances and other payments made to such employees) during the financial year and the contributions made by such employee during the financial year.
(3) The statement referred to in sub-section (2) shall indicate whether any such employee is a relative of any member of the Board or Academic Council of the Institute and if so, the name of such member; and such other particulars as may be determined by the Board.
(4) The Director shall also be bound to give the complete information and explanations in the report referred to in sub-section (1) on every reservation, qualification or adverse remark contained in the auditors' report.
Section 27 Board to consider statement of accounts.
(1) The statement of accounts, including the balance sheet and the statement of income and expenditure, the auditor's report, the report of the Director and other documents required to be annexed or attached with such statement, shall be brought before the Board of concerned Institute in its meeting not later than three months, from the conclusion of the financial year.
(2) A copy of every statement of accounts referred to in sub-section (1) shall be sent to every member of the Board not less than twenty-one days before the date of the meeting.
(3) The statement of accounts referred to in sub-section (1) shall on its approval by the Board, be published on the website of the Institute.
(2) A copy of every statement of accounts referred to in sub-section (1) shall be sent to every member of the Board not less than twenty-one days before the date of the meeting.
(3) The statement of accounts referred to in sub-section (1) shall on its approval by the Board, be published on the website of the Institute.
Section 28 Annual report of Institute.
(1) The annual report of every Institute shall be prepared under the directions of the Board, which shall include, among other matters, steps taken by the Institute towards the fulfilment of its objects and an outcome based assessment of the research being undertaken in such Institute.
Explanation.—For the purposes of this sub-section, the expression "outcome based assessment of research" shall mean an elaboration and analysis of the research conducted and the qualitative and quantitative outcomes of such research along with its impact factor and social outcomes.
(2) The annual report prepared under sub-section (1) shall be submitted to the Board on or before such date as may be specified by the Board who shall consider the report in its meeting.
(3) The annual report on its approval by the Board shall be published on the website of the Institute.
(4) The annual report of each Institute shall be submitted to the Central Government who shall, as soon as may be, cause the same to be laid before both Houses of Parliament.
Explanation.—For the purposes of this sub-section, the expression "outcome based assessment of research" shall mean an elaboration and analysis of the research conducted and the qualitative and quantitative outcomes of such research along with its impact factor and social outcomes.
(2) The annual report prepared under sub-section (1) shall be submitted to the Board on or before such date as may be specified by the Board who shall consider the report in its meeting.
(3) The annual report on its approval by the Board shall be published on the website of the Institute.
(4) The annual report of each Institute shall be submitted to the Central Government who shall, as soon as may be, cause the same to be laid before both Houses of Parliament.
Section 29 Establishment of Coordination Forum.
(1) With effect from such date as the Central Government may, by notification, specify in this behalf, there shall be established a Coordination Forum for all the Institutes.
(2) The Coordination Forum shall consist of the following members, namely:---
1[(a) an eminent person to be nominated by the Visitor as Chairperson;]
Provided that the Coordination Forum may select one of its members to act as the chairperson till the chairperson is appointed;
(b) the Secretary to the Government of India, in charge of the Ministry or Department of the Central Government having administrative control of management education, member---ex officio;
(c) two Secretaries in charge of management education of State Governments in which the Institutes are located, by rotation, each year, member---ex officio;
2[(d) the Chairperson of each Institute--- Member, ex officio];
(e) the Director of each Institute, member---ex officio;
(f) five persons of eminence, of which at least one shall be a woman, in academia or public service, to be selected by a sub-committee constituted by the Coordination Forum.
(3) The term of office of a member referred to in clause (f) of sub-section (2) shall be three years from the date of his nomination.
(4) The non-official members of the Coordination Forum shall be entitled to such travelling and other allowances, as may be prescribed.
(5) The Director of the host Institute where the meeting of the Coordination Forum takes place shall be the Member Secretary of the Coordination Forum and shall continue to be the Member-Secretary till a new host Institute is selected.
(2) The Coordination Forum shall consist of the following members, namely:---
1[(a) an eminent person to be nominated by the Visitor as Chairperson;]
Provided that the Coordination Forum may select one of its members to act as the chairperson till the chairperson is appointed;
(b) the Secretary to the Government of India, in charge of the Ministry or Department of the Central Government having administrative control of management education, member---ex officio;
(c) two Secretaries in charge of management education of State Governments in which the Institutes are located, by rotation, each year, member---ex officio;
2[(d) the Chairperson of each Institute--- Member, ex officio];
(e) the Director of each Institute, member---ex officio;
(f) five persons of eminence, of which at least one shall be a woman, in academia or public service, to be selected by a sub-committee constituted by the Coordination Forum.
(3) The term of office of a member referred to in clause (f) of sub-section (2) shall be three years from the date of his nomination.
(4) The non-official members of the Coordination Forum shall be entitled to such travelling and other allowances, as may be prescribed.
(5) The Director of the host Institute where the meeting of the Coordination Forum takes place shall be the Member Secretary of the Coordination Forum and shall continue to be the Member-Secretary till a new host Institute is selected.
1. Subs. by Act 23 of 2023, s. 9, for clause (a) (w.e.f. 16-8-2023).
2. Subs. by , s. 9,ibid., for clause (d) (w.e.f. 16-8-2023).
2. Subs. by , s. 9,ibid., for clause (d) (w.e.f. 16-8-2023).
Section 30 Functions of Coordination Forum.
(1) The Coordination Forum shall facilitate the sharing of experiences, ideas and concerns with a view to enhancing the performance of all Institutes.
(2) Without prejudice to the provisions of sub-section (1), the Coordination Forum shall perform the following functions, namely:—
(a) recommend to the Central Government, the institution of scholarships including for research and for the benefit of students belonging to the Scheduled Castes, the Scheduled Tribes and other socially and educationally backward classes of citizens;
(b) deliberate on such matters of common interest to Institutes as may be referred to it by any Institute;
(c) promote necessary coordination and co-operation in the working of the Institutes;
(d) review the achievement of policy objectives; and
(e) perform such other functions as may be referred to it by the Central Government.
(3) The Coordination Forum may constitute such committees as it may consider necessary for carrying out its functions under this section.
(4) The Chairperson of the Coordination Forum shall ordinarily preside at the meetings of the Coordination Forum and in his absence, any other member chosen by the members present amongst themselves at the meeting, shall preside at the meeting.
(5) The Coordination Forum shall submit a report on its functions under sub-section (2) to the Central Government.
(6) The Coordination Forum shall meet at least once in a calendar year.
(7) At each meeting of the Coordination Forum, the host institute, which would host the next meeting, shall be selected:
Provided that no Institute shall host the meeting for more than two consecutive years.
(2) Without prejudice to the provisions of sub-section (1), the Coordination Forum shall perform the following functions, namely:—
(a) recommend to the Central Government, the institution of scholarships including for research and for the benefit of students belonging to the Scheduled Castes, the Scheduled Tribes and other socially and educationally backward classes of citizens;
(b) deliberate on such matters of common interest to Institutes as may be referred to it by any Institute;
(c) promote necessary coordination and co-operation in the working of the Institutes;
(d) review the achievement of policy objectives; and
(e) perform such other functions as may be referred to it by the Central Government.
(3) The Coordination Forum may constitute such committees as it may consider necessary for carrying out its functions under this section.
(4) The Chairperson of the Coordination Forum shall ordinarily preside at the meetings of the Coordination Forum and in his absence, any other member chosen by the members present amongst themselves at the meeting, shall preside at the meeting.
(5) The Coordination Forum shall submit a report on its functions under sub-section (2) to the Central Government.
(6) The Coordination Forum shall meet at least once in a calendar year.
(7) At each meeting of the Coordination Forum, the host institute, which would host the next meeting, shall be selected:
Provided that no Institute shall host the meeting for more than two consecutive years.
Section 31 Acts and proceedings not to be invalidated by vacancies, etc.
No act of any Institute or the Board or the Academic Council or any other body set-up under this Act or the regulations, shall be invalid merely by reason of—
(a) any vacancy or defect in the constitution thereof; or
(b) any irregularity in its procedure not affecting the merits of the case; or
(c) any defect in the selection, nomination or appointment of a person acting as a member thereof.
(a) any vacancy or defect in the constitution thereof; or
(b) any irregularity in its procedure not affecting the merits of the case; or
(c) any defect in the selection, nomination or appointment of a person acting as a member thereof.
Section 32 Return and information to be provided to Central Government.
Every Institute shall furnish to the Central Government such returns or other information with respect to its policies or activities as the Central Government may, for the purpose of reporting to the Parliament or for the making of policy, from time to time, require.
Section 33 Institute to be public authority under Right to Information Act.
(1) The provisions of the Right to Information Act, 2005 (22 of 2005) shall apply to each Institute, including Institutes established in publicprivate partnership, as if it were a public authority established by notification issued or order made under clause (h) of section 2 of the Right to Information Act, 2005.
(2) A copy of every notification proposed to be issued or order to be made under the Act referred to in sub-section (1), shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in disapproving the issue of the notification or order or both Houses agree in making any modification in the notification or order, the notification or order shall not be issued or made, as the case may be, shall be issued or made only in such modified form as may be agreed upon by both the Houses.
(2) A copy of every notification proposed to be issued or order to be made under the Act referred to in sub-section (1), shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in disapproving the issue of the notification or order or both Houses agree in making any modification in the notification or order, the notification or order shall not be issued or made, as the case may be, shall be issued or made only in such modified form as may be agreed upon by both the Houses.
Section 34 Power of Central Government to make rules. 1 docs
(1) The Central Government may, by notification, make rules, for carrying out the provisions of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:---
1[(a) the conditions and the procedure subject to which the Board may be suspended or dissolved under sub-section (6) of section 10;
(aa) such other powers and duties of the Board under clause (w) of sub-section (2) of section 11;]
(b) the term and conditions of service of the Director under sub-section (2) of section 16;
2[(ba) the procedure to be adopted for selection of the Director under sub-section (3A) of section 16;
(bb) the manner of termination of services of the Director under sub-section (10) of section 16;]
(c) the travelling and such other allowances payable to the members of the Coordination Forum for attending its meetings or its Committees under sub-section (4) of section 29;
(d) any other matter which is to be or may be, prescribed or in respect of which provision is to be made by the Central Government by rules.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:---
1[(a) the conditions and the procedure subject to which the Board may be suspended or dissolved under sub-section (6) of section 10;
(aa) such other powers and duties of the Board under clause (w) of sub-section (2) of section 11;]
(b) the term and conditions of service of the Director under sub-section (2) of section 16;
2[(ba) the procedure to be adopted for selection of the Director under sub-section (3A) of section 16;
(bb) the manner of termination of services of the Director under sub-section (10) of section 16;]
(c) the travelling and such other allowances payable to the members of the Coordination Forum for attending its meetings or its Committees under sub-section (4) of section 29;
(d) any other matter which is to be or may be, prescribed or in respect of which provision is to be made by the Central Government by rules.
1. Subs. by Act 23 of 2023, s. 10, for clause (a) (w.e.f. 16-8-2023).
2. Ins. by ibid., s. 10, (w.e.f. 16-8-2023).
2. Ins. by ibid., s. 10, (w.e.f. 16-8-2023).
Section 35 Power to make regulations.
(1) The Board may, by notification, make regulations not inconsistent with this Act and the rules made thereunder to carry out the provisions of this Act.
(2) In particular and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:--
(a) tenure, remuneration and terms and conditions of employees of existing Institute under clause (d) of section 5;
(b) admission of candidates to the various courses of study under clause (b) of section 7;
(c) the manner of nominating the members from the faculty of respective Institutes under clause (e) of sub-section (2) of section 10;
(d) the conferment of honorary degrees under clause (g) of sub-section (2) of section 11;
(e) the number of posts, emoluments and the duties and conditions of service of the academic, administrative, technical and other staff under clause (j) of sub-section (2) of section 11;
(f) determine performance objectives on the basis of which variable pay may be paid to the Director under clause (i) of sub-section (2) of section 11;
(g) to specify by regulations, the fees to be charged for course of study and examinations in the Institute under clause (m) of sub-section (2) of section 11;
(h) the manner of formation of Departments of teaching under clause (n) of sub-section (2) of section 11;
(i) the institution of fellowships, scholarships, exhibitions, medals and prizes under clause (o) of sub-section (2) of section 11;
(j) the qualifications, classification, terms of office and method of appointment of the academic, administrative, technical and other staff of the Institute under clause (p) of sub-section (2) of section 11;
(k) the constitution of pension, insurance and provident funds for the benefit of the academic, administrative, technical and other staff under clause (q) of sub-section (2) of section 11;
(I) the establishment and maintenance of buildings under clause (r) of sub-section (2) of section 11;
(m) the conditions of residence of students of the Institute and levying of fees for residence in the halls and hostels and of other charges under clause (s) of sub-section (2) of section 11;
(n) the manner of authentication of the orders and decisions of the Board under clause (t) of sub-section (2) of section 11;
(o) the meetings of the Board, the Academic Council or any Committee, the quorum at such meetings and the procedure to be followed in the conduct of their business under clause (u) of sub-section (2) of section 11;
(p) the financial accountability of the Institute under clause (v) of sub-section (2) of section 11;
(q) delegate such powers and functions of the Board to the Director under sub-section (3) of section 11;
(r) the qualifications, experience and the manner of selection of the independent agency or group of experts under sub-section (5) of section 11;
(s) allowances of the members of the Board for attending meetings under sub-section (6) of section 12;
(t) such other powers and functions of the Academic Council under sub-section (2) of section 15;
(u) the powers and duties of the Director under sub-section (4) of section 16;
(v) constitution of such committees and other authorities of the Institute and their duties and functions under sub-section (1) of section 20;
(w) the manner of depositing or investing the moneys credited to the Fund of every Institute under sub-section (2) of section 21;
(x) the manner of application of the Fund of the Institute under sub-section (4) of section 21; and
(y) any other matter which is to be or may be, specified by regulations.
(2) In particular and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:--
(a) tenure, remuneration and terms and conditions of employees of existing Institute under clause (d) of section 5;
(b) admission of candidates to the various courses of study under clause (b) of section 7;
(c) the manner of nominating the members from the faculty of respective Institutes under clause (e) of sub-section (2) of section 10;
(d) the conferment of honorary degrees under clause (g) of sub-section (2) of section 11;
(e) the number of posts, emoluments and the duties and conditions of service of the academic, administrative, technical and other staff under clause (j) of sub-section (2) of section 11;
(f) determine performance objectives on the basis of which variable pay may be paid to the Director under clause (i) of sub-section (2) of section 11;
(g) to specify by regulations, the fees to be charged for course of study and examinations in the Institute under clause (m) of sub-section (2) of section 11;
(h) the manner of formation of Departments of teaching under clause (n) of sub-section (2) of section 11;
(i) the institution of fellowships, scholarships, exhibitions, medals and prizes under clause (o) of sub-section (2) of section 11;
(j) the qualifications, classification, terms of office and method of appointment of the academic, administrative, technical and other staff of the Institute under clause (p) of sub-section (2) of section 11;
(k) the constitution of pension, insurance and provident funds for the benefit of the academic, administrative, technical and other staff under clause (q) of sub-section (2) of section 11;
(I) the establishment and maintenance of buildings under clause (r) of sub-section (2) of section 11;
(m) the conditions of residence of students of the Institute and levying of fees for residence in the halls and hostels and of other charges under clause (s) of sub-section (2) of section 11;
(n) the manner of authentication of the orders and decisions of the Board under clause (t) of sub-section (2) of section 11;
(o) the meetings of the Board, the Academic Council or any Committee, the quorum at such meetings and the procedure to be followed in the conduct of their business under clause (u) of sub-section (2) of section 11;
(p) the financial accountability of the Institute under clause (v) of sub-section (2) of section 11;
(q) delegate such powers and functions of the Board to the Director under sub-section (3) of section 11;
(r) the qualifications, experience and the manner of selection of the independent agency or group of experts under sub-section (5) of section 11;
(s) allowances of the members of the Board for attending meetings under sub-section (6) of section 12;
(t) such other powers and functions of the Academic Council under sub-section (2) of section 15;
(u) the powers and duties of the Director under sub-section (4) of section 16;
(v) constitution of such committees and other authorities of the Institute and their duties and functions under sub-section (1) of section 20;
(w) the manner of depositing or investing the moneys credited to the Fund of every Institute under sub-section (2) of section 21;
(x) the manner of application of the Fund of the Institute under sub-section (4) of section 21; and
(y) any other matter which is to be or may be, specified by regulations.
Section 36 Ordinances how made.
(1) Save as otherwise provided in this section, 1[Ordinances] shall be made by the Academic Council.
(2) Subject to the provisions of this Act and the rules and regulations made thereunder, the Ordinances of every Institute may provide for all or any of the following matters, namely:---
(a) the admission of students to the Institute;
(b) the courses of study to be laid down for all degrees and diplomas of the Institute;
(c) the conditions under which students shall be admitted to the degree or diploma courses and to the examinations of the Institute, and shall be eligible for degrees and diplomas;
(d) the conditions of award of the fellowships, scholarships, exhibitions, medals and prizes;
(e) the conditions and model of appointment and duties of examining bodies, examiners and moderators;
(f) the conduct of examinations;
(g) the maintenance of discipline among the students of the Institute; and
(h) any other matter which is to be or may be provided for by the Ordinances.
(3) All Ordinances made by the Academic Council shall have effect from such date as it may direct, but every Ordinance so made shall be submitted, as soon as may be, to the Board and shall be considered by the Board at its next meeting.
(4) The Board shall have power by resolution to modify or cancel any such Ordinance and such Ordinance shall from the date of such resolution stand modified accordingly or cancelled, as the case may be.
(2) Subject to the provisions of this Act and the rules and regulations made thereunder, the Ordinances of every Institute may provide for all or any of the following matters, namely:---
(a) the admission of students to the Institute;
(b) the courses of study to be laid down for all degrees and diplomas of the Institute;
(c) the conditions under which students shall be admitted to the degree or diploma courses and to the examinations of the Institute, and shall be eligible for degrees and diplomas;
(d) the conditions of award of the fellowships, scholarships, exhibitions, medals and prizes;
(e) the conditions and model of appointment and duties of examining bodies, examiners and moderators;
(f) the conduct of examinations;
(g) the maintenance of discipline among the students of the Institute; and
(h) any other matter which is to be or may be provided for by the Ordinances.
(3) All Ordinances made by the Academic Council shall have effect from such date as it may direct, but every Ordinance so made shall be submitted, as soon as may be, to the Board and shall be considered by the Board at its next meeting.
(4) The Board shall have power by resolution to modify or cancel any such Ordinance and such Ordinance shall from the date of such resolution stand modified accordingly or cancelled, as the case may be.
1. Subs. by Act 31 of 2019, s. 3 and the Second Schedule, for "Ordinance" (w.e.f. 8-8-2019).
Section 37 Rules and regulations to be laid before Parliament.
Every rule made by the Central Government and the first regulation made by the Board under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or regulation or both Houses agree that the rule or regulation shall not be made, the rule or regulation shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule or regulation.
Section 38 Power to remove difficulties.
(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act, as may appear to it to be necessary or expedient for removing the difficulty:
Provided that no such order shall be made under this section after the expiry of the period of three years from the date of commencement of this Act.
(2) Every order made under this section shall, as soon as may be after it is made, be laid before each House of Parliament.
Provided that no such order shall be made under this section after the expiry of the period of three years from the date of commencement of this Act.
(2) Every order made under this section shall, as soon as may be after it is made, be laid before each House of Parliament.
Section 39 Transitional provisions.
(1) Notwithstanding anything contained in this Act:---
(a) the Board of every Institute functioning as such immediately before the commencement of this Act shall continue to so function until a new Board is constituted for that Institute under this Act, but on the constitution of a new Board under this Act, the members of the Board holding office before such constitution shall cease to hold office;
(b) every Academic Council or Faculty Council, as the case may be, constituted in relation to every Institute before the commencement of this Act shall be deemed to be the Academic Council constituted under this Act until an Academic Council is constituted under this Act for that Institute, but on the constitution of the new Academic Council under this Act, the members of the Academic Council or Faculty Council, as the case may be, holding office before such constitution shall cease to hold office;
(c) until the first regulations are made under this Act, the rules, and bye-laws of each Institute as in force, immediately before the commencement of this Act shall continue to apply to the Institute in so far as they are not inconsistent with the provisions of this Act.
1[(d) the Board of National Institute of Industrial Engineering, Mumbai, functioning as such immediately before the commencement of the Indian Institutes of Management (Amendment) Act, 2023 shall continue to so function until a new Board is constituted for that Institute under this Act, but on such constitution of a new Board under this Act, the Members of the Board holding office before such constitution shall cease to hold office;
(e) the Academic Council constituted in relation to National Institute of Industrial Engineering, Mumbai, before the commencement of the Indian Institutes of Management (Amendment) Act, 2023 shall continue to so function until a new Academic Council is constituted for that Institute under this Act, but on the constitution of a new Academic Council under this Act, the Academic Council of the National Institute of Industrial Engineering, Mumbai shall cease to function;
(f) until the first regulations in relation to National Institute of Industrial Engineering, Mumbai are made under this Act, the rules and bye-laws of the National Institute of Industrial Engineering, Mumbai as in force immediately before the commencement of the Indian Institutes of Management (Amendment) Act, 2023 shall continue to apply to the National Institute of Industrial Engineering, Mumbai with necessary modifications and adaptations insofar as they are not inconsistent with the provisions of this Act.]
2[(g) until the first Board of the Indian Institute of Management, Guwahati is constituted under this Act, all the powers and functions which may, by or under the provisions of this Act, be exercised or performed by or on behalf of such Board on the commencement of the Indian Institutes of Management (Amendment) Act, 2025, shall be exercised and performed by such person or persons as the Central Government may direct in this behalf.]
(2) The Central Government may, without prejudice to the provisions of this Act, if it considers so necessary and expedient, by notification, take such measures, which may be necessary for the smooth transfer of the existing Institute to the corresponding Institute.
(a) the Board of every Institute functioning as such immediately before the commencement of this Act shall continue to so function until a new Board is constituted for that Institute under this Act, but on the constitution of a new Board under this Act, the members of the Board holding office before such constitution shall cease to hold office;
(b) every Academic Council or Faculty Council, as the case may be, constituted in relation to every Institute before the commencement of this Act shall be deemed to be the Academic Council constituted under this Act until an Academic Council is constituted under this Act for that Institute, but on the constitution of the new Academic Council under this Act, the members of the Academic Council or Faculty Council, as the case may be, holding office before such constitution shall cease to hold office;
(c) until the first regulations are made under this Act, the rules, and bye-laws of each Institute as in force, immediately before the commencement of this Act shall continue to apply to the Institute in so far as they are not inconsistent with the provisions of this Act.
1[(d) the Board of National Institute of Industrial Engineering, Mumbai, functioning as such immediately before the commencement of the Indian Institutes of Management (Amendment) Act, 2023 shall continue to so function until a new Board is constituted for that Institute under this Act, but on such constitution of a new Board under this Act, the Members of the Board holding office before such constitution shall cease to hold office;
(e) the Academic Council constituted in relation to National Institute of Industrial Engineering, Mumbai, before the commencement of the Indian Institutes of Management (Amendment) Act, 2023 shall continue to so function until a new Academic Council is constituted for that Institute under this Act, but on the constitution of a new Academic Council under this Act, the Academic Council of the National Institute of Industrial Engineering, Mumbai shall cease to function;
(f) until the first regulations in relation to National Institute of Industrial Engineering, Mumbai are made under this Act, the rules and bye-laws of the National Institute of Industrial Engineering, Mumbai as in force immediately before the commencement of the Indian Institutes of Management (Amendment) Act, 2023 shall continue to apply to the National Institute of Industrial Engineering, Mumbai with necessary modifications and adaptations insofar as they are not inconsistent with the provisions of this Act.]
2[(g) until the first Board of the Indian Institute of Management, Guwahati is constituted under this Act, all the powers and functions which may, by or under the provisions of this Act, be exercised or performed by or on behalf of such Board on the commencement of the Indian Institutes of Management (Amendment) Act, 2025, shall be exercised and performed by such person or persons as the Central Government may direct in this behalf.]
(2) The Central Government may, without prejudice to the provisions of this Act, if it considers so necessary and expedient, by notification, take such measures, which may be necessary for the smooth transfer of the existing Institute to the corresponding Institute.
1. Ins. by Act 23 of 2023, s. 11 (w.e.f. 16-8-2023).
2. Ins. by Act 31 of 2025, s. 3 (w.e.f. 01-09-2025).
2. Ins. by Act 31 of 2025, s. 3 (w.e.f. 01-09-2025).