IIM Calcutta has asked the six candidates who didn’t want to pursue the executive MBA course in such “uncertain financial times” and sought a refund to tell the institute by July 31 what they want: deferred admission or refund.

The MBAEx office mailed the six regarding this on Tuesday.

The candidates for the executive course for working professionals had paid Rs 2 lakh each as “commitment fees”. The one-year residential course costs Rs 27 lakh.

Manju Jaiswall, the chairperson of the MBAEx course, said in a mail: “The current batch of MBAEx students is an empowered batch that has been able to leverage the online format effectively. They have engaged in multifarious activities as part of the curriculum to strengthen their skillsets. They have used the advantage of the online platform to connect with the industry leaders across the spectrum and learn how to apply the managerial concepts they are learning in managing this uncertainty in real time.”