Section 12 in The Indian Institute of Management Act, 2017

Title: Term of office of, vacancies among, and allowances payable to members of Board

Description: (1) Save as otherwise provided in this section, the term of office of the Chairperson or any other member of the Board, other than an ex officio member, shall be four years from the date of his appointment or nomination: Provided that the term of office of a member nominated under clause (e) of sub-section (2) of section 11 shall be two years from the date of his nomination: Provided further that the Chairperson, or any other member of the Board, other than an ex officio member, may be appointed or nominated for a second term: Provided also that the Chairperson or any other member of the Board, other than an ex officio member, shall not be appointed or nominated for more than two consecutive terms. (2) The term of office of an ex officio member shall continue so long as he holds the office by virtue of which he is a member of the Board. (3) A member of the Board, other than a nominee of the Central Government or the State Government, who fails to attend three consecutive meetings of the Board without permission of the Chairperson, shall cease to be a member of the Board. (4) A casual vacancy of a member shall be filled up in accordance with the provisions of section 10. (5) The term of office of a member nominated to fill a casual vacancy shall continue for the remainder of the term of the member in whose place he has been so nominated. (6) Members of the Board shall be entitled to such allowances, as may be specified in the regulations, for attending meetings of the Board. (7) The Board shall meet at least once in every three months.

Title: Resignation of Chairperson

Description: The Chairperson may, by notice in writing under his hand addressed to the Board, resign from his office.

Title: Academic Council

Description: (1) The Academic Council shall be the principal academic body of every Institute, consisting of the following persons, namely:— (a) Director of the Institute, who shall be the Chairperson of the Academic Council; (b) Deans in charge of academics, research, student affairs and such other functions of the Institute; (c) Chairs of Areas or Programmes, Heads or Coordinators of Faculties or Schools or Centres or Departments, of the Institute; (d) all full time Faculty at the level of Professors and such number of other full time Faculty of the Institute as may be determined by the Board; (e) such members, by invitation of the Board on the recommendation of the Director, who are eminent in the fields of industry, finance, management, public administration and academics. (2) The term of office of an ex officio member shall continue so long as he holds the office by virtue of which he is a member. (3) The term of office of a member nominated under clause (d) of sub-section (1) shall be two years from the date of his nomination.

Title: Power and functions of Academic Council

Description: (1) The Academic Council shall perform the following functions, namely:— (a) to specify the criteria and process for admission to courses or programmes of study offered by the Institute; (b) to specify the academic content of programmes and courses of study and undertake modifications therein; (c) to specify the academic calendar, guidelines for conduct of examination and recommend grant of degrees, diplomas and other academic distinctions or titles. (2) The Academic Council shall exercise such other powers and perform such other functions as may be conferred upon it, by this Act or the regulations or by the Board.

Title: Director

Description: (1) The Director shall be the Chief Executive Officer of the Institute and shall provide leadership to the Institute and be responsible for implementation of the decisions of the Board. (2) The Director shall be appointed by the Board, on such terms and conditions of service as may be prescribed. (3) The Director shall be appointed out of the panel of names recommended by a search-cum-selection committee to be constituted by the Board, consisting of:— (a) the Chairperson of the Board, who shall be the Chairperson of the search-cum-selection committee; (b) three members chosen from amongst eminent administrators, industrialists, educationists, scientists, technocrats and management specialists: Provided that where the Board is not satisfied with the recommendations of the search-cum-selection committee, it may ask the search-cum-selection committee to make fresh recommendations. (4) The Director shall exercise the powers and perform the duties as may be assigned to him under this Act or the regulations or as may be delegated to him by the Board: Provided that the Board may lay down the criteria to be followed by the Director while exercising powers and performing his duties, which shall be evaluated by the Board annually, and if the Board is of the opinion that such criteria has not been followed, then, the Board may, after giving an opportunity of being heard to the Director, initiate action for removal of such Director under sub-section (7). (5) The Director shall, except on account of resignation or removal, hold office for a term of five years, from the date on which he enters upon his office. (6) The Director may, by notice in writing under his hand addressed to the Board, through the Chairperson, resign his office at any time. (7) The Board may remove from office the Director, who— (a) has been adjudged as an insolvent; or (b) has been convicted of an offence which, in the opinion of the Board, involves moral turpitude; or (c) has become physically or mentally incapable of acting as a Director; or (d) has acquired such financial or other interest as is likely to affect prejudicially his functions as a Director; or (e) has so abused his position or so conducted himself as to render his continuance in office prejudicial to the public interest: Provided that the Director shall not be removed from office except by an order made by the Board, after an enquiry instituted by it in which the Director has been informed of the charges against him and given a reasonable opportunity of being heard in respect of those charges. (8) Where the post of Director is likely to fall vacant on account of completion of tenure, the Board shall initiate the process of appointment nine months prior to the occurrence of such vacancy. (9) Where the post of Director falls vacant on account of any reason, the Board may appoint the senior-most faculty in the institution as the Director in charge till a regular Director is appointed: Provided that if the senior-most faculty is not willing to hold the post of Director in charge, then the next senior-most willing faculty may be appointed as Director in charge