The matter was discussed at a meeting of the IIMB Board of Governors held at the prestigious institute on its 37th Foundation Day here on Thursday.

Less than half of the members turned up for the meeting of the Board of Governors. Out of the 26 members, only 12 attended it wherein matters related to management as well as functioning of the institute were discussed. Even Mukesh Ambani, Chairman of the Board of Governors, remained absent. IIM-B’s annual budget was also deliberated upon.

The B-school honoured its distinguished alumni including K Radhakrishnan, chairman of Indian Space Research Organisation and Ramanujam Sridhar, CEO of Brandcomm.

IIMB Director Pankaj Chandra said the Institute will expand its capacity to make it one of the leading management institutes. As many as 105 doctoral students have enrolled at the IIM-B. We hope this will stimulate the students to create a very rich research environment, he added.