ICFAI University was established in 2011 through an Act of Chhattisgarh Private Universities (Establishment and Operation) Act, 2005 (No 13 of 2005) and Chhattisgarh Private Universities (Establishment and Operation) (amendment) Act, 2006 vide notification published in the Chhattisgarh State Gazette on 25 March 2011. The University has been empowered to award its degree by the University Grants Commission, under Section 22 of the UGC Act, 1956 and is listed in the list maintained by the UGC. The Visitor of the University is H.E. The Governor of Chhattisgarh. The University is administered as per the Act, Statutes and Ordinances. The Governing Body is headed by the Chancellor and has Vice-Chancellor and others as members. The Board of Management is headed by the Vice-Chancellor. The Academic Council headed by the Vice Chancellor is responsible for all academic matters. The University campus is located at Kumhari, Dist: Durg. The campus provides a congenial environment for education, research and learning. It has well-equipped physical and academic infrastructure. The University has no study centers.
The headquarters of the University is at PO: Kumhari, Dist: Durg 490042. The University believes in creating and disseminating knowledge and skills in core and frontier areas through innovative educational programs, research, consulting, publishing and developing a new cadre of citizens with a high level of competence and deep sense of ethics and commitment to the code of professional conduct. The University is spread in a land area of 30.43 acres and has total building area of 66473.67 sq. ft consisting of academic building & laboratory buildings.
As per provisions of the Act, the University is a self financed University and shall neither make a demand nor shall be entitled to any grant-in-aid or any other financial assistance from the State Governments or any other body or corporation owned or controlled by the State Government.
The University has launched an official website www.iuraipur.edu.in for information of the public and University community.