New Delhi, Nov 12 The Union government on Monday approved the process of constitution of Board of Governors for the Indian Institutes of Management (IIMs) in accordance with the IIM Act 2017.As per the approval given after consultation with the Ministry of Law and Justice, the government has decided to withdraw its nominees from the existing boards."In spirit of the Act, the government has decided to immediately withdraw the government nominees who are in excess of the provisions of the Act. This will pave the way for complete control of the institutions by reputed academicians and alumni," read the statement issued by the Human Resource Development (HRD) Ministry.Under the decision, three ex-officio members will re-select the current Chairperson -- unless there are issues with ineligibility -- and allow him or her to continue for a new full term. The Chairperson will then constitute the board as laid down in the Act's Section 10.The Chairperson will now select five alumni members, four eminent persons, and two faculty members, for a full new term."This process is expected to be completed before December 15, 2018. On completion of the constitution of the Boards... The rules under the IIM Act would be issued, which would bring out the operational details more clearly," read the statement.That government nominees will become part of the Board in future is not yet clear, since Section 10 of the IIM Act, 2017 prescribes inclusion of one nominee each from the central and state governments in the Board."The process of constitution of Boards for the IIMs, which have been given full powers of running the institutions, is a major development which signals complete autonomy of quality institutions in higher education and will ensure quality expansion of higher education," HRD Minister Prakash Javadekar said in the statement.The Board has the authority to decide fees for courses, and to create academic and administrative posts and also establish faculties as well as departments.