The turnaround of the IICA was completed during 2019-20 and the IICA has become self-sustainable and a surplus revenue of INR 15.26 cr. was generated. This was largely a result of completely implementing the 9-Fold strategic plan in the past three years, IICA informed in its website.
The foundation of IICA rests on the activities of the niche centres. The Centre of Independent Directors is operating the Independent Directors Database portal – a one-stop-shop for registering independent directors, building their capacity and connecting them to companies looking for independent directors. The Centre earned revenue of INR 15.94 cr, it said.
The Centre of Insolvency and Bankruptcy organizes the Graduate Insolvency Programme – a two year first of its kind course in the country. The Centre earned an income of INR 4.03 cr.
The Centre of End-to-End services in CSR provides a complete range of services connected to CSR to corporates. Another is the Forum of Indian Regulators Centre (FOIR) focusing on market regulation.
The IICA has also started a new valuation programme. The other niche centre is the Centre on Business and Human Rights (ESG) and a unique capacity building programme was undertaken by this centre.
The routine bread-and-butter activities of the five existing schools continued even during pandemic times and all the Schools were able to complete their short and long term programmes by relying on digital technology.
Some of the key programmes were – advanced long term porgrammes in corporate governance, competition law, corporate law and insolvency law. In addition several short term management development programme were also undertaken.
The IICA also works as an agent to Government and was able to successfully complete the second cycle of the National CSR Awards using virtual tools during pandemic times.
The IICA has gone completely digital in all its operations and developed an expertise in virtual class pedagogy, remote proctored testing, etc. using artificial intelligence. The new doctoral programme in association with Gurugram University was also launched.
The IICA also started to publish the Journal of Corporate Affairs. The IICA is future ready to move into the leap forward stage following the breakthrough achieved during the past three years.
