LN Jhunjhunwala, chairman of the Indian Institute of Management-Indore, has resigned from the board of governors over alleged mismanagement in the institute. A board member and retired IAS officer, MN Buch has also resigned from the board.
Talking to media, Buch said, "When Jhunjhunwala, who had appointed me, has left what my significance would remain there so I made way for some new and younger person." Sources in the B-school said the resignations have been forwarded to the union Human Resource Development (HRD) ministry for final call.
Indian Institute of Management- Indore is an autonomous management institute in Madhya Pradesh. Instituted in 1998, IIM-I is the sixth addition to the IIM family. Like other IIMs, IIM Indore awards diplomas, not degrees. It offers a Post Graduate Diploma in Management (PGDM) which is equivalent to an MBA, Fellow Programme in Management (FPM), Management Development Programme (MDP), Executive Post-Graduate Programme (EPGP) and Post-Graduate Certificate Program in Management (PGCPM).