INDIAN INSTITUTE OF MANAGEMENT AND COMMERCE (IIMC) was founded in the year 1973 by Vasavi Foundation (settled by Vasavi Seva Kendram and Vysya Hostel Trust Board) with B.Com (Hons) Degree. Several eminent persons belonging to Vysya Community such as Sri K. Seethaiah Gupta, Sri G. Narayana Chetty, Sri C. E. Gupta, Sri Dundoo Balnarsiah, Sri V. Lingiah Gupta, Sri C. Som Raj Ram and Sri V. Durvasulu Gupta were instrumental in the establishment of the Institution.
After taking into consideration, his academic credentials (he being a gold medalist in M.Com and LLB having secured First Class First and having been in the field of education), elders have decided that Sri C. Som Raj Ram garu would be the best choice for the post of Hon. Secretary. Accordingly, he was unanimously elected as the Hon. Secretary of the college and the Secretary would function as the correspondent of the college.
The first Board of Governors included some eminent civil servants such as Sri M. V. Rajagopal, Sri Rammurthy and Sri Rameshan who were also the Secretaries of Education at one time or the other.
The Hon. Secretary and Correspondent and Rector Sri C. Som Raj Ram and elders such as Sri C. E. Gupta have taken great care in finding the right man for the post of Director of the Institute. The former Registrar of Andhra University Dr. K. V. Gopalaswamy, who was well known for his administrative abilities was appointed as the Director of the Institute.
The Correspondent and Rector, who himself was associated with the department of commerce, Osmania University for over 10 years as a faculty member and who was the Principal, Kamala Nehru Politechnic at that time, selected the teaching staff with great care in consultation with other elders.
Sri B. R. Rao, an eminent teacher in Accountancy and Audting, who retired from Nizam College, Hyderabad, was given the position of Head, Department of Commerce. As an Osmanian, Sri C. Som Raj Ram, selected eminent scholars such as Acharya Divakarla Venkatavadhani, Prof. Afzul Mohammad, Prof. Nagaraj and Dr. Soundar Rajan to teach in the college as visiting faculty. Thus, the Hon. Secretary and Rector took great care in selecting the faculty in consultation with the Director and other elders and laid solid academic foundation.
The college was admitted into grant-in-aid in the year 1980 and it was admitted into Sec.2 (f), 12-B of University Grants Commission in the year 1994. Gradually, several new courses such as M.Com, B.C.A., B.Com (Computers) and B.Sc (Computers) were introduced. Hundreds of alumni of the college have become Chartered Accountants, Cost Accountants and Company Secretaries. Several students have become successful businessmen. Some of the alumni of the college such as Karan Bilimoria (Asian of the Year 2002 and founder of Cobra Beer) have become famous across the world.
The Institute has been imparting instruction in the three year B.Com (Hons.) Degree Course since 1973. The honours course is an undergraduate course and has in its course structure purposeful academic inputs. The languages are taught only in the first year. At the end of the II Year, B.Com.(Hons.) Students should undergo internship. In the III year they have to take up Project Work and appear for Viva, consisting of 100 marks. The pass mark is 40% in each paper. The College has two sections of B.Com.(Hons.) Course (both aided sections). For over two decades, IIMC was the only College offering B.Com.(Hons.) Course but presently there are about 15 Colleges in the twin cities, offering the course. The admission into B.Com.(Hons.)Course is through a Common Entrance Examination conducted by the Dept of Commerce, OsmaniaUniversity every year. The entrance test paper consists of 100 marks of 1 1/2 hr.duration.
Several Students of the college have achieved success in their chosen fields - be it business, Chartered Accountancy/Cost Accountancy/Compny Secretary profession or Govt.Service.
Sri Karan Billimoria (LORD Karan Billimoria)is an outstanding businessman who won several awards for excellence in business. Sri Abhiram secured all India first in C.A. foundation, 4th rank in C.A. inter and 8th rank in C.A. final. He did his MBA from IIM Bangalore recently and joined an MNC as consultant. Sri Durgaprasad(IPS) presently IG of police is an outstanding police officer. Sri C.Prasanna Kumar who did his M.B.A.(Finance) in USA has been with the GMR group who was instrumental in getting a donation of Rs.10 lacs from GMR foundation for the construction of class rooms.
During the academic year 2008-09, around 72 students of our college were placed in different Indian and Multi-National companies through Campus Recruitment and JKC placement drive. Organizations such as Broadridge Financial Services, Bank of America, Deloitte(Tax), Deloitte(FCOE) and DELL Computers have visited the campus. In addition to this,Computer Science Corporation, Cognizant Technology Solutions, Wipro and Satyam Computer Services have recruited the eligible students of the institution through JawaharKnowledgeCenter.
CTS has selected 19 students followed by Bank of America 18 students, Deloitte(Tax) 9 students, CSC 7 students, Broadridge 5 students, Deloitte(FCOE) 3 students and the remaining were by Dell, Satyam and Wipro.
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