Kolkata: The Board of Governors of Indian Institute of Management (IIM)-Calcutta has decided to accept reduction in fees as proposed by the Government subject to faculty council's concern on autonomy.

Although there were two extreme positions taken in course of the four-hour-long Board meeting yesterday (March 26, 2004), the Government nominees assured that there would be no interference in the functioning of the institute, a member of the IIM-C Board said.

The source said the Board had authorised its chairman Y C Deveshwar to word a resolution accordingly saying that the fee reduction had been accepted subject to the concerns raised by the faculty and on the outcome of the final decision of the Supreme Court.

Sources said that if a poll had been held at yesterday's meeting, then it would have gone in favour of the Government whose nominees were present in big numbers.

Industry representatives on the IIM-C Board were Rajiv Kaul of Nicco, Aditya Kashyap, H Barooah, Avijit Majumdar and S B Ganguly of Exide Industries.