Act Number: 33

Act Name: The Indian Institute of Management Act, 2017

Year: 2017

Enactment Date: 2017-12-31

Long Title: An Act to declare certain Institutes of management to be institutions of national importance with a view to empower these institutions to attain standards of global excellence in management, management research and allied area of knowledge and to provide for certain other matters connected therewith or incidental thereto.

Ministry: Ministry of Human Resource Development

Department: Department of Higher Education

Section 4: Incorporation of Institutes.
    (1) On and from the commencement of this Act, every existing Institute shall be a body corporate by the same name as mentioned in column (5) of the Schedule.
     (2) Every Institute referred to in column (5) of the Schedule shall have perpetual succession and a common seal, with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to contract and shall, by the said name, sue or be sued.
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