Institute of Professional Studies And Research (IPSAR) – started as an endeavor in 1988 by Late Dr. R.N. Misra – a visionary educationist of Orissa in the field of Management and Cost Accountancy. The institute was formed as a Society under the Societies Registration Act 1860 and continues to be governed as a society. Late Ranganath Mishra, Former Chief Justice of India became the patron of the institute and helped the Institute in getting the first approval from The All India Council for Technical Education (AICTE), under the chairmanship of Prof H.K. Khanna. Eminent personalities like Mr B.B.Rath Senior Advocate, Orissa High Court, Mr L.N.More senior Chartered Accountant joined as co-opted members while Mr J.K.Misra, Chartered Accountant became a full time member.