The institute started in 1981. It has consistently ranked among the top 20 B-schools in the country for the last 5 years. PGDM and MMS programmes of the Institute are accredited for 5 years by the National Board of Accreditation (NBA) since 2005. The Institute has initiated process of international accreditations. The institute is certified as ISO 9001:2000 by Bureau Veritas Certification. It is awarded as the Best Management Institute of the Year 2008 by Bombay Management association.