Recognizing its sincere efforts towards promotion of management education and entrepreneurship, the State Government were pleased to lease out a 3-Acre plot of land in the State Capital during 1978 where the Institute developed a campus of its own.
The All India Council for Technical Education, Government of India, also accorded IMB the status of an autonomous Institution to offer a 2-year full-time P G program since 1995-96 and confer the Post Graduate Diploma in Management (PGDM) at par with MBA Degree of Indian University since 1996-97.
The Institute made a rapid stride during the next 10 years. However, during the academic year: 2007-08, an unscrupulous group made a forcible entry by fraudulently claiming ownership of IMB after maneuvering things at the AICTE and State Government level. They succeeded through their mischievous design and took over management of IMB with the help of hired goons and musclemen. They illegally occupied IMB premises for more than 6 years and ruined its name and fame during these years.
