Recently it was reported by the press that Delhi based IMM and IIPM had got into a legal dispute. Our reporter tried to find out the IIPM story and found out that a criminal complaint was filed by IIPM against IMM, viz Office of DCP/EOW, Diary No. D-859 and Dated, 13.04.2023 and later under Section-156(3) read with Section-200 of the code of criminal procedure before the Chief Metropolitan Magistrate as Case No. 2171/2023. The complaints mentioned that The Institute of Marketing Management (IMM) based in Qutub Institutional Area, Delhi entered into a letter of intent with the Indian Institute of Planning & Management (IIPM) for the brand takeover of the IMM by the IIPM. Accordingly, IIPM paid crores of rupees to the IMM. As per the LOI signed between the parties if due to any reason, the LOI isn’t adhered; IMM would return back double the amount to the IIPM which again amounted in crores.
Another agreement was also signed between both the institutes as per which IIPM was to get 30% of the fees collected by the IMM for certain services like admissions etc. & the agreement was to remain in force for a period of 9 years. Even after the expiry or termination of the agreement, IMM was bound not to enter into a similar kind of an agreement with anyone else till the next 5 years after the expiry or termination. Accordingly, IIPM made hundreds of students take admission at the IMM every year only to realize that IMM & Gaganjit Singh have violated the terms of the agreement & has defrauded IIPM. During all this while, when the agreement was in force, IMM made full use of IIPM’s name by making large claims using the IIPM’s name & quoting the IIPM’s name on its website & giving the advertisement in the newspapers quoting at both the places that IMM has entered into an agreement with the India’s Global B-School – IIPM
According to the legal representative of IIPM – “Gaganjit Singh kept on sending whatsapp messages & mails every now & then to exaggerate the non-payment citing financial constraints making IIPM believe that the money would be paid by the IMM so that IIPM doesn’t take a legal recourse.”
“We have already filed a complaint at the Economic Offence Wing (EOW) against the IMM & it is only a matter of time when the Executive President of IMM – Gaganjit Singh along with the other accused persons would be brought to Justice” – said Advocate Vishal Gupta representing IIPM.
