Career Launcher has suspended the operations of its B-school, Indus World School of Business launched four years ago at Greater Noida. The management institute lost its affiliation from Pondicherry Central University.
The B-school was set up in 2008 with a capital investment of about Rs 70 crore. The university has cancelled the affiliation of 35 colleges. The institute is waiting for its re-affiliation. The school is not inviting new admissions this year. The 2011 batch of 60 students will graduate in 2013. The program fee is Rs 6.25 lakh per year.
Career Launcher however claimed that it is offering other courses that were introduced in partnership with a few of government, industrial and development bodies such as Sife (Students In Free Enterprise), NEN (National Entrepreneurship Network) and TiE (The Indus Entrepreneurs).
The B-school expressed that it was working on some international collaboration and may seek a re-launch.
This year, another management institute, the Mumbai Business School was closed down due to lack of sufficient students.
AICTE revealed that this year till now, nearly 110 colleges of which 60 are B-schools have asked permission to close down.
In last 2 years, 95 business schools have shut down. Industry experts hope more colleges to close down in the absence of adequate students and inability of institutes to equip students with the advanced industry requirements. As per Crisil Research, the average occupancy rate reduced in 2011-12 to about 67% for engineering colleges and to around 65% for business schools.
Source: Business Standard
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