The Munjal family, promoter of the Hero Group, has forayed into the education sector by launching BML Munjal University in Haryana.
Named on the group's founder, Brij Mohan Lal Munjal, the varsity will follow multi-disciplinary education system.
"Our aim is to provide qualitative education at the affordable rates. We would try to be a leading university in the next 10 years," BM University Director Akshay Munjal said.
Spread over 50 acre, the university will start the first phase from the next session in July 2014 with two disciplines -- Technology and Management.
In the first phase, university will offer B Tech courses with 300 seats in Mechanical, Civil, Electrical & Electronics, Computer Sciences and Electronics & Communications.
It will also offer MBA and BBA courses from its School of Management, for which the varsity has tied-up with the London-based Imperial College that will design its courses, facilitate student and faculty exchange programmes and conduct joint research.
In the second phase, the varsity will add schools of liberal arts, School of Arts, Architecture & Design, School of Law, School of Natural Sciences and School of Education.
According to Munjal, BM University has get all necessary clearances from the state of Haryana and other rest approvals from the University Grants Commission would be obtained by the end of December.
On being asked whether it has got clearances from the All India Council for Technical Education, he said: "It is not necessary. As per a recent high court judgement, we do not require AICTE approvals for such courses".
Munjals also declined to reveal the investments made while developing the first phase of the university.
"The money required would be put by the family while developing it. We would keep investing the money required by it," Rockman Industries MD Suman Kant Munjal said.
Hero MotoCorp Managing Director Pawan Munjal said: "Our aim through this initiative is to nurture ethical leaders with practically-oriented knowledge benchmarked with the best global standards to enable them to lead organisations of success."