IICA inks pact with 6 executive search firms for access to independent director databank

Indian Institute of Corporate Affairs (IICA) volition supply entree to the autarkic manager database to six enforcement hunt firms, a determination that volition further assistance successful uncovering the qualified autarkic directors for companies.

The institute is maintaining the Independent Director Databank (IDDB), mandated nether the companies law. The databank is simply a repository of details of professionals eligible to service arsenic autarkic 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 -- connected Friday successful the nationalist capital.

The database has accusation of astir 32,000 autarkic directors.

"Collaboration with hunt firms of this stature volition assistance guarantee the companies person entree to skilled professionals, aligned with the evolving requirements of firm governance," IICA Director General and Chief Executive Officer Ajay Bhushan Prasad Pandey said.

IICA's Head of School of Corporate Governance & Public Policy Niraj Gupta said the pact is an important measurement successful strengthening accountability and committee effectiveness.

Emphasising the request to person beardown firm governance practices, Pandey besides said immoderate issues successful this respect volition interaction galore people.

If determination are issues, past radical volition suffer spot and volition besides adversely interaction assorted elements, including overseas money flows, helium added.