Chennai: A Chennai-based institute, tasked by the Central Government to prepare a project report on the establishment of an Indian Institute of Corporate Affairs, looks forward to inviting suggestions from the professors of the Indian Institutes of Management (IIMs).

The Great Lakes Institute of Management (GLIM) has been selected as one of the agencies by the Ministry of corporate affairs to prepare the project report on setting up the institute.

"We will submit the project report or white paper before December. The report will suggest the organisation structure, finance, curriculum and other related matters," Bala V. Balachandran, founder and honorary dean of GLIM, told reporters here on Wednesday.

GLIM will form an expert committee to formulate its suggestions, said Balachandran, adding that the experts from the IIMs will be invited to be on the committee albeit on no-cost basis.

He clarified the government was not paying any fee for preparing the project report and the payment option will arise only when the Government accepts the report and mandates GLIM to take further action.

The Government has asked a couple of overseas organisations to give their inputs on the modalities of setting up the corporate affairs institute.

The Government had on Aug 21 announced plans to set up the proposed institute to assist in capacity building and training for the Indian Company Law Service and subordinate cadres, provision of value-added services and service delivery in areas like investor education and awareness and corporate governance.

The proposed institute will also act as a think tank for the corporate affairs ministry. IANS