Five post-graduate programme (PGP) students of the Indian Institute of Management, Ahmedabad (IIM-A) have set up a Private Equity (PE) and Venture Capital (VC) club to help students get hands-on experience by involving PE/VC players from India and abroad. Unlike finance clubs run by most B-schools in the country, this club exclusively focuses on PE and VC funding.

The lack of opportunities and experience in the PE and VC space led five students to set up the club called ‘Leverage’. With around 50 students interested in being members, the club will be a forum for students interested in all aspects of private equity and venture capital.

“We came up with an initial skeletal structure of the PE club by looking at institutes like Harvard and others from the Ivy League. But the end product has been entirely our idea of how a PE club should be. Although we prefer to call it an interest group for the time being, we plan to run a full-fledged club with more activities soon,” says Anirudh Singh, a member of the club.

“PE as an industry has boomed in India and we plan to invite speakers to the campus, hold conclaves, workshops and other events to provide a platform for the students and corporates to interact. Also, we are looking forward to hold intra-institute events, where the students can write an investment proposal and a panel of faculty members can judge them.

We have no restrictions when it comes to corporates as we would be involving both top- and middle-level players to encourage more and more activities in the field of PE and VC,” says Gagandeep Singh, another member of the club.

As part of formalising the club, the students are holding the first intra-institute event called the ‘Zen of Investing’, where the club plans to invite alumni working in the area of private equity, besides involving the faculty and students for the activity.

The club also has plans to tie-up with Post-Graduate Programme in Management for Executives (PGPX) students to getter a better perspective of private equity. “The PGPX students would be able to share their experiences about private equity and with their support, we plan to involve ourselves with the corporates in a deeper way through various activities, including projects and case workshops,” adds Anirudh Singh.

The club is in talks with a few corporates, who have shown interest in sponsoring the club.

“We are considering more options for funding besides the institute and the corporates we are in talks with. Currently, we are in the stage of gauging the responses from the people about the club,” says Anirudh Singh, before adding, “Although we have started out PE and VC, we may consider branching out to other areas like micro finance later.”

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University at Albany-SUNY students in the evening and weekend MBA programs are in Budapest this week as they visit seven companies there and immerse themselves in Hungarian business, history and culture.

The School of Business entourage includes two dozen students, retired Dean Paul Leonard, and several faculty and staff. New School of Business Dean Donald Siegel popped in for a visit last weekend.

In the evenings, the future MBAs take an international business class with Professor Yasha Crnkovic.

An innovation expert from the Massachusetts Institute of Technology (MIT) will be visiting the Indian Institute of Management, Ahmedabad (IIM-A), in November to promote the importance of user-based innovations in creating successful companies.

“India and Indians residing worldwide have a wonderful record as innovators and entrepreneurs. I believe users tend to be the real developers of many important products. Recently, research by my colleagues has shown that many new companies are started by users who become entrepreneurs. Learning about how user innovations foster the creation of successful new companies will be very useful information for IIM students and others in India,” says Eric von Hippel, professor and head of Innovation and Entrepreneurship Group at the MIT Sloan School of Management and professor of Engineering Systems at MIT.

It will be his first trip to India, which he also intends to use “to forge closer contacts with my colleagues at IIM-A, who have very similar research interests”.

The lecture is part of a two-week long ‘Inventors of India’ workshop by the Centre for Innovation, Incubation and Entrepreneurship (CIIE) at IIM-A. About 70 inventors and innovators of all ages and technical background are expected to be present at the event. Premier institutes could also be called to participate at the workshop.

“Eric will participate and may give the inaugural address at the workshop. In addition, he will interact with the faculty and students and explore possibilities of collaborative research. Apart from visiting some grassroot innovators, he will interact with our incubatee companies as well. Several things are being planned and we are quite excited about his visit. Also, we may ask institutes like National Institute of Design (NID) and Mudra Institute of Communications, Ahmedabad (MICA), to pitch in,” says Rakesh Basant, chairman of CIIE and a professor at IIM-A.

An expert in Principle of Developing Economics, Eric has made two of his books available openly on his website at no cost to the reader: Democratising Innovation, published in 2005 by the MIT Press, and Sources of Innovation, published in 1988 by Oxford University Press. Leading companies in the world have used practical methods based on his research.

Hippel is also expected to meet grassroot innovators at SRISTI, an NGO founded by Anil Gupta, a professor at IIM-A. Incidentally, Gupta too would be lecturing at MIT as part of the Amy Smith’s International design and development course on July 16-17.

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For Indian Business Schools with global ambitions, Singapore is fast, hot as a goal. Earlier this year, IIM Bangalore announced its plans for the creation of a campus. And now Mumbai-based SP Jain Institute of Management and Research expects to likewise.

If this SP Jain overall the second incursion within two years. In 2004, the Institute has a campus in Dubai and was the first to offer a full residential full-time MBA program in the Middle East. Beflügelt by its success, it now has its sights on Singapore.

It is interesting to note that both SP Jain and IIM-B-plane orientation of the Indian diaspora in Singapore. Nearly 7.9 percent of 4 million people of Singapore are of Indian origin, this is the third ethnic group by the Chinese (76.8 percent) and Malays (13.9 percent).

IIM-B is planning to target the leaders to work in Singapore is short-term programmes Executive Education and Executive MBA, while SP Jain can be full-time program or an Executive MBA. “What are we going programmes make a bit of localization,” says ML Shrikant, dean of volunteers, SP Jain. “There will be a strong component of India programmes, such as the Modern World increasingly interested in India in the region, “she added.

Both IIM-B and SP Jain plan to fly down right in India. This could lead to a serious crisis of the resource, especially for SP Jain, given that the same option is also Deputy Director of Dubai. “This is probably a lot more pressure on resources, therefore we are in the process of the Faculty employs more,” said Shrikant

Kolkata, April 8. Faculty members of the Indian Institute of Management, Calcutta (IIM-C) are companies in their opposition to the Union Human Resource Development Ministry’s move to reduce taxes.

Prof. Asish K. Bhattacharyya, Dean (planning and management) of IIM-C and spokesperson of the Faculty, told Business Line, the Faculty of the opinion that the tax was cut under the autonomy of the Institute, which is registered by the association as a body independent, and not a hotel.

Professor Bhattacharyya said that there is an option of the Faculty, have resorted to legal measures. “We are considering all options. The judicial process is not a privileged, but we are obliged for such a measure as a major group of IIM-C,” he says. ”

“We also ask, Mr YC Deveshwar, president of the Governing Council on its draft resolution on reducing fees. IIM-C Faculty strongly believes that the Department of command on the subject was not a” mandatory “At the Institute. Approval for the new session at the IIM-C would begin in late May or early April.

Mr. Deveshwar, it is scheduled for April 16 Faculty.

In addition, the Supreme Court today directed all six IIMS to submit their comments on the issue of reducing costs by 16 April. The summit also court fixed the hearing of the public interest litigation on the subject, the same day. IIM-C response to the Supreme Court directive on the fee reduction would be completed early next week, according to the Institute of sources.

Prof. Bhattacharyya said: “We are discovering, through legal formalities, if we ever move the court”.

Regarding the issue of autonomy of the Faculty representatives pointed out that the memorandum of freedom of association and rules of IIM-C had clearly stated that “the general superintendence, direction and control over business of society (IIM-C-Gesellschaft) their income and property is vested benefits to the board of directors of the company, which bears the name “Board of Governors.”

The Faculty Council has estimated that the chairman of the Board of Governors, has been specially assigned by which they make, the resolution, Mr. Deveshwar could not as a “compromise” the autonomy of the committee. “The Institute of revenue, academic freedom, decisions concerning the students’ teacher-report and the curricula could not part of the area of the state,” he observed.

Prof. Bhattacharyya also pointed out that the IIM-C Faculty had a position paper of the Government in question to move in a reduction of taxes and the question of autonomy over a month ago, was the distribution to the officers.

The Faculty Council of Indian Institute of Management, Calcutta (IIM-C), Tuesday, a petition before the Supreme Court for impleading itself as co-respondents in the case of PIL against cut costs, for HRD on the Union in all Department of IIMS Government of the European Union.

Hearing on PIL is scheduled to begin on 16 April.

The IIM-C Faculty decided to representation, whoever may be made by the Board of Governors of the Institute. Prof. Asish Bhattacharyya, Dean (planning and management) of IIM-C and spokesperson of the Faculty, said the Business Line, there is a clear difference between the opinion of the Faculty and some members of the Board of Governors Tax on the issue of interface and the exercise of autonomy of the Institute.

The Faculty Council felt that the independence of representation should be addressed to bring the case before the Court of art.

“The Faculty feels that some members of the Board of Governors can not exercise their independent judgement in the interest of the institute. It is therefore responsible for the faculty, for the interests of the Institute, its teachers and students present and future, “Spokesman.

The Faculty Council, in its application at the end of court, said that “autonomy have so far by the Institute in the pursuit of excellence, not by any political or bureaucratic influence, it would be possible to l ‘Institute, to achieve their current status.

The Faculty is therefore every interest in ensuring that these non-interference in its affairs under way should continue, so that the Institute could be the target, without distraction. ”

Prof. Bhattacharyya also stressed that for the question of standing was concerned, has always questioned, the respondents in the previous hearings, the Institute of the Faculty was better placed than the Alumni Association of the IIM - C. He said, however, were Alumni of transition assistance of the Faculty.

The IIM-C Board of Governors In the meantime, was unable to formalize its response to the Apex Court directive last week for a model to 16 April.

According to some sources, the technical problem of convening a meeting of council is therefore a period of 15 days.

The director of IIM-C and the chairman of the Governing Council understood to have discussed issues related to the Institute’s response to the edge Court directive also as a form adoption of the resolution drafted by the presidency.

The fate of the planned meeting between the Faculty and the president on 15 April seems uncertain, given the evolving situation. Informed sources suggested that IIM-C could try for some time by the Court of art for its presentation, but is optional.

How IIM, Ahmedabad, the Supreme Court today for some cases, pressure on IIM-C, for a formal presentation.

Faculty members of the Indian Institute of Management Calcutta are occupied, legal advice five days before the Supreme Court against the European Union human resource development ministry, said Ashis Bhattacharyya, IIMC’s din of the planning and management.

The Tribunal is currently head PIL consultation has been suggested that the HRD with the Ministry’s decision to bar tuition annual R-IIMS lakh from 1.5 to 30 RS 000 The Faculty IIMC appears in SC On 16 April.

The Faculty IIMC was against the tax bar because she thought it would have on the autonomy of the university.

IIMC faculty members and institutions in Bangalore and Ahmedabad felt the Boards of Governors decides on tuition fees of these institutions, which are not MHRD.

The PIL in SC was filed by some ex-students and academics from the Faculty of IIMA the Faculty IIMC decided to party. In search of the rights of the expertise of the Faculty IIMC are not subject to lawyers only in the city. “We started talking about some jurists high level in New Delhi, Mumbai and Bangalore, man, regularly take up cases of the SC,” a senior Faculty said.

“The SC, after consulting the PIL, on 8 April has sought the opinion of the IIMS. But IIMS Lucknow, Indore and Kozhikode Calcutta at the offices of governors, a resolution supporting the tax cut, despite l ‘opposition of the Faculty. And it review committees have been searched, “said the panel members.

The Indian Institute of Management-Ahmedabad (IIM-A), in an affidavit filed before the Supreme Court on Tuesday, has said that the unilateral decision of the Union ministry of human resources development regarding fees to be charged by IIMs does not seem to be a step in the right direction.

The affidavit, filed after the apex court served notices to the six IIMs on April 8, asking them to clarify their stand on the fee-cut issue, puts on record the IIM-A’s willingness to sort out the issue through a process of dialogue.

“We have not gone to the court proactively. The affidavit places our views on record in answer to the notice and not filing it would have limited our options. We are, however, not a party to the PIL,” said a source in the IIM-A.

The affidavit has three components - the Position Paper prepared by the faculty, the resolutions passed by the IIM-A Society and the Board of Governors recently, and the fact that the institute is in a process of dialogue with the ministry.

Dons feel that the affidavit clarifying the institute’s willingness for a dialogue will create an atmosphere that will help the process initiated by chairman NR Narayanamurthy during the board meeting here on April 3.

The affidavit said the fee-reduction order has to be seen not in isolation, but in the larger context of many other decisions by the ministry that threatened the autonomy of the institute.

It has also said that the notification on fee reduction “violates the time-honoured process of the fee being decided by the Board of Governors and that it is not necessary to reduce fees to make management education more affordable to the less well-to-do sections of the society.”

Meanwhile, the Indian Institute of Management-Calcutta faculty council filed an application before the Supreme Court, praying for an order impleading it as a respondent in the fee-cut case already pending before the apex court.

Faculty members of the Indian Institute of Management, Calcutta, have decided to wait until the Supreme Court order, it is accessible from Monday, before a decision on their future.

Given that the next consultation, if ever, in July-end, many faculty members are of the opinion that the situation could change in their favour as Murli Manohar Joshi can no longer, as before the MHRD minister after the elections.

The SC has governed IIMS MHRD and the opening of a dialogue on the issue of fees helm. If it is not sorted it, the SC to hear the case again in mid-July.

“We commend the Tribunal. We hope that reason MHRD’ll see what we tried to explain our position and application, we in the head of jurisdiction, “said Ashish Bhattacharya, IIM-C Dean of the planning and management.

The Faculty will be held on April 22 to discuss as much tax should be charged from new students, letters of admission until May the second week.

Calcutta: It’s management practices rather than a me-combat. Faculty members of the Indian Institute of Management, Calcutta, want the status quo on tuition fees will be maintained at least for the next academic year.

Faculty members say that the Institute of authorization to issue letters of a fresh cargo of students from next week, in which tuition fees must be clearly indicated.

The decision of the IIM-C’s Faculty meeting on Monday, is a clear defiance framed by resolution YC Deveshwar, president of the IIM-C’s Board of Governors.

The President of the European Union has HRD ministry bar annual fee of 1.25 lakh RS RS 30000

“Given that tuition fees should be clear to new students, the Council may decide that the fees issue and negotiate director Shekhar Chowdhury. We also proposed that the segregated funds, where money may be filed. If the fee is to bar the Apex court, we students money back with interest “, Ashish Bhattacharya, IIM-C-dean of planning and management said.

The director is expected to inform the Board of Governors of the Council decision. The Council also approved the decision of the ability to move high court on Tuesday.

It is responsible for the HRD ministry of the decision on their own people to participate in the 164 Board of Governors’ meeting, on March 26 are available in some members of origin. A new teams up with a Alumnus and two members the ability to ensure that the HRD ministry has initiated a dialogue with members of the Faculty in the bar fees discussion. “The Supreme Court, the ministry believes that discussions with the IIMS to solve the problem of honoraria. In case of IIM-C, the Board of Directors and members have the option of opposing view and, therefore, we ask that the Ministry held separate discussions, “Bhattacharya added.

The Council said that the RS 4 crore kitty sent by the Observatory at low tide on any deficit are not currently used. “We believe it is in a separate account and can not handle now. We will wait until the Supreme Court to take a decision on the question that we decide how it is used,” said Bhattacharya.