The Expert Committee Report submitted in May 2001 to the Union Minister for Human Resource Development shows that 90% of these management institutions are performing below the norms. A large majority of these institutions do not have the required faculty, facilities, courses and programmes although these institutions have the "approval" or "recognition" by the AICTE but the students studying in these institutions at the end acquire an MBA degree but do not end up in a managerial career. It is a fact that the approvals or recognitions by the AICTE have generally been given on considerations other than merit. No wonder, the best of management institutions in India like IIM‘s and many others, have decided to remain continue without the AICTE approval.? After spending two years with ...