New Delhi, Sep 27 (UNI) The Government today came out with a strong denial of press reports that it was planning a new legislation to control the IIMs.
''This news item is far from the truth and is not based on facts,'' the Ministry of Human Resource Development headed by Mr Arjun Singh said.
It, however, admitted that it had been examining the issue of bringing the IIMs in the country under an umbrella legislation like the Institutes of Technology Act, but said it had no objective of specifying the extent of financial and administrative autonomy of the IIMs, as quoted in the press report.
The Ministry sought to clarify that such a law would in no way alter the IIMs' accountability to Parliament or their status of being public institutions, while it would empower them to award degrees to the students, which they were not competent to do so at present.
Moreover, such a Bill had not yet been drafted and the question of referring the same to the Law Ministry did not arise, it added.
The Ministry said the IIMs in the country functioned under their respective Memorandum of Associations (MoAs) and rules and regulations framed thereunder, and they were societies registered under the Societies Registration Act.
They were public institutions and were accountable to Parliament. Their accounts are annually audited by the Comptroller and Auditor General and their Annual Reports, along with the audited accounts, were submitted to Parliament, it said.
''They enjoy complete autonomy as regards the academic matters and matters relating to fees, selection of faculty, introduction of new courses, incurring of expenditure in conformity with the prudence involved in public spending,'' said the Ministry.
The Ministry sought to underline that the IITs had been flourishing as Institutes of excellence under the Institutes of Technology Act and their autonomy had in no way been adversely affected under the said Act.