Section 6(1) in Indian Institutes of Management Rules, 2018
(1)(i)The age of applicant for the post of Director shall not be more than sixty years as on first day of January of the year of advertisement for the post.(ii)The Director shall hold office for the tenure of appointment as specified in the Act or till he or she completes the age of sixty five years, whichever is earlier.(iii)The applicant shall be a distinguished academic with PhD or equivalent having at least fifteen years teaching or research experience and shall have worked as a full Professor at a reputed institution for at least seven years; or shall have industry experience at a higher level for at least fifteen years.(iv)No person shall be appointed as Director for more than two terms.(v)The Director shall be appointed by the Board only after he or she, in case he or she is employed in an organization within the control of Government is clear from vigilance angle as certified by the institute concerned in which he or she is working, and in case of private person, no adverse police report is found after the police verification of his or her antecedents.(vi)The person proposed to be appointed as Director shall be an Indian Citizen or a Overseas Citizen of India (OCI).(vii)In case of sudden vacancy of post of Director on account of any reason, the process for filling up the post on regular basis shall be completed within a period of six months from the date of such vacancy.(viii)In case, if the Director is on leave or on tour abroad for a period of more than a month, the senior most Professor of the institute or one of the Deans of the Institute shall be nominated as Director.(ix)The Director may resign from the post by giving three months notice to the Board, which shall be deemed to be accepted, if no decision is taken within the three month period and the Director shall stand relieved on the expiry of notice period. The Director may withdraw his resignation at anytime of the notice period, if no decision has been taken on the subject:Provided that, if the Board decides that the Director may be relieved with immediate effect without completion of the notice period, then the Director may be relieved by paying him salary for the remaining notice period.(x)The Director may be removed by the Board in accordance with the procedure prescribed under subsection (7) of section 16 of the Act.(xi)No Director shall be removed unless the Board approves the removal of Director with two thirds of the members present and voting and more than fifty percent of the members of the Board.(xii)During the period of his service except in respect of any period of suspension and also of any period of leave without pay, the Director shall be entitled to the Pay Scale in level 17, as revised from time to time by the Government of India.(xiii)The Director is entitled to draw allowances like Dearness Allowance, etc. as may be admissible from time to time as per rules of the Government of India.(xiv)The Director shall be entitled to a furnished office-cum-residential accommodation in the campus of the Institute, free of license fee as may be sanctioned by the Board of Governors of the Institute, with provision for furnishing or renewal of furnishing subject to the limits as may be specified by regulations subject to a maximum limit of four times of the basic pay in a full tenure of five years. All the furnishings and fixtures shall be the property of the Institute.(xv)The Director shall be eligible for staff car as per the scale under the staff car rules of Government of India for official use. For personal use of the car, the Director shall be liable to pay charges as per staff car rules of Government of India.(xvi)The Director shall be paid entertainment allowance as per the regulations of the institute for entertainment of official guests at the residence and also outside the residence up to four percent of the basic pay per month. No voucher is required to be submitted for the purpose, a simple statement for expenditure shall be suffice for reimbursement.(xvii)The Director shall be entitled for reimbursement of transport and travelling allowance of one month's basic salary, at the time of joining the institute.(xviii)The Director shall be entitled to travelling allowance as per the Travelling Allowance Rules of the Institute and shall be entitled to leave travel concession as per the rules of the Government of India.(xix)The Director shall be allowed to retain royalties and consultancy fee, sitting fee in other Boards etc., as per the regulations made by the Board.
