Calcutta Business School is being set up by the Marwari Balika Vidyalay Society with S K Birla, the Chairman of S K Birla Group of companies, as the Chairman of the Board of Governors of the institute.

The society, set up in 1920, is already running a couple of schools and a colleges in the city.

The Rs 70-crore business school will come up on Diamond Harbour Road at Bishnupur.

The 15-acre campus will conduct its classes in a green building.

The first batch of 60 students will be admitted in the Post-graduate programme in Business Management (PGDM) and the academic activities will start from June this year.

The institute has also received a letter of intent from the All India Council for Technical Education (AICTE) as initial approval for running the management college. The course fees for the two-year programme would be Rs 7.5 lakh.

The admissions to the PGDM programme will be on the basis of CAT and GMAT. However, for the first year the institute is open to admit students with good academic record on the basis of group discussions and personal interviews.

The institute has also roped in faculty from leading management institutes from India and abroad — Subir Chowdhury, ex-Director of IIM Calcutta as the Advisor, and P K De, ex-Dean at XLRI Jamshedpur as the Director of Calcutta Business School.

Besides, the institute also has five permanent faculties and about 25 visiting faculties from abroad to conduct classes. More faculties are expected to join the institute, said the officials of Calcutta Business School.

“The faculty, both full time and visiting, is best in the areas of specialisation. Also the professors from renowned and leading foreign business schools have been appointed to bring in a global perspective in education,” said SK Birla.

The institute will also initiate the concept of cluster teaching in second year with IT and Management Information System (MIS), Economics, Banking and Finance, Operations Supply Chain and Retail Management being taught together.

The institute has plans of tying up with foreign varsities. “The Chief Minister has said that there are two proposals from foreign Universities who are seeking ties with the institute,” said S K Birla.