Kolkata: Enraged at the Board's decision to accept the fee slash, the faculty members of the Indian Institute of Management- Calcutta today (April 7, 2004) said that they would explore all options including legal to oppose the decision.

The faculty members, who met here to discuss the development, passed a resolution stating, ''We are very much disappointed with the Chairman Y C Deveshwar's decision. We expected that he would take a stand similar to that of IIM-Ahmedabad."

Briefing reporters about the meeting, Prof Ashish Bhattacharya, Dean, Planning and Administration, said that the members were "shocked and anguished" at the decision by the Chairman of the Board of Governors, Y C Deveshwar, and urged him to reconsider it.