ISB: Co-founder involved in allegations of insider trading

Anil Kumar is seeking a leave of absence from the Indian School of Business following allegations of insider trading, reports Reuters. U.S. investigators have charged billionaire hedge fund founder Raj Rajaratnam, Kumar and executives from prestigious U.S. firms with insider trading. Mr Kumar is co-founder of the ISB, which was launched in 2001 in association with the Kellogg School of Management, the Wharton School and London Business School. The allegations relate to Mr Kumar's position as a director of McKinsey.It is the second scandal already, which has shaken ISB this year. At the beginning of the year the school's dean Mendu Rammohan Rao resigned because of his links to Satyam, an Indian software company caught up in a fraud scandal.The Hyderabad-based ISB ranked 15th in the Financial Times 2009 global MBA rankings � although the school doesn�t have an international accreditation yet, which is according to FT one of the prerequisites for the participation in the ranking.

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