Hey!!! Although all the B schools have their rules of giving the money back in case of admission withdrawal, AICTE has formulated a few uniform set of rules which are supposed to be followed by all the AICTE approved management institutes

Fees to Be Refund:
According to the AICTE rules and rules of different B schools, Refund should be made after deduction of the cancellation/processing charges depending upon the time factor when the request is made.

When the request is made before the date of start of the academic session and the institute could fill the seat before the cutoff date from the waitlisted candidates.
-Entire fee less by Rs 1000/-. The refund amount should include full amount of security, caution money also

When the request is received on/after the beginning of academic session and the institute could fill the seat before the cutoff date from the waitlisted candidates.
-Entire fee less the Seat Cancellation Charges on pro rata basis. For calculation of pro-rata basis, 1 month shall be treated as 1 unit.

For example if the candidate withdraws within a month after the start of academic session and the seat is filled before the cutoff date, the cancellation charges on pro rata basis will be the amount of total fee/12 or Rs.1000/-, whichever is higher.


When the request is received before/after the start of the academic session and the institute could not fill the seat
-No Refund except security deposit shall be made

Settlement of dispute
-Usually the court jurisdiction of the area where the b school is situated is to be exercised. If the dispute is with IIM Ranchi, the jurisdiction area will be Ranchi


Rules governing refund in case of admission withdrawal

-Tuition fee, Development fee and other fee, charged by the institute will constitute the amount of total fee for refund after cancellation of admission secured through CAP rounds, institute level round(s) and vacancy round(s) of admission

- The candidate, who has been provisionally admitted, may cancel admission by submitting an application for cancellation in duplicate, in the prescribed format as advised by the institute or available on its site and may request for refund of fee.

- The refund of fee as applicable shall be made within the time prescribed/due course by the institute.

-Refund can be applied by the candidates who have confirmed their admission by paying the prescribed tuition fee and other fees in full as demanded by the institute and by submitting the original documents, as desired by the institute.