26 March 2011: The founder-chairman of Indian School of Business (ISB), Rajat K Gupta, resigned from his post, after being alleged for transfer of confidential information by US Securities and Exchange Commission (SEC). This has brought a sigh of relief for the students of ISB, who feared this will lead to the erosion of brand value of this premiere institute which may ultimately affect their placement prospects.
This is the third time that an ISB chief is facing allegations. Earlier, in January 2010, Anil Kumar, co-founder of ISB was found guilty of leaking inside information. In 2009, then dean Prof. Mendu Rama Mohan Rao, stepped down, as he failed to perform fiduciary duties as a board member of scam hit Satyam Computers Private Limited.
Source: The Hindu