IICA

Indian Institute of Corporate Affairs (IICA) will provide access to the independent director database to six executive search firms, a move that will further help in finding the qualified independent directors for companies. The institute is maintaining the Independent Director Databank (IDDB), mandated under the companies law. The databank is a repository of details of professionals eligible to serve as independent directors. Memoranda of Understanding (MoUs) were signed by the institute with six entities -- Korn Ferry, ABC Consultants, EMA Partners, DHR Global, Sheffield Hawroth and Vahura -- on Friday in the national capital. The database has information of around 32,000 independent directors. "Collaboration with search firms of this stature will help ensure the companies have access to skilled professionals, aligned with the evolving requirements of corporate governance," IICA Director General and Chief Executive Officer Ajay Bhushan Prasad Pandey said. IICA's Head of School o

Training by the Indian Institute of Corporate Affairs is expected to help improve compliance

The importance of building resilience and integrating emotional intelligence and empathy was also focused upon when setting the pace for the three-day training programme, IICA said

The databank is expected to become a comprehensive repository of both existing independent directors as well as individuals eligible and willing to be appointed as independent directors

A number of value added services are expected to be rolled out through the portal for capacity building of independent directors," an official release said

IICA also works on measures to improve the corporate growth and regulation