The Bill which is being drafted on the lines of the IIT Act of 1961, seeks to confer the IIMs the status of institutes of national importance empowering them to award degrees instead of diplomas and establishment of an IIM Council similar to the Council for the IITs.
The latter provision in particular is being contested by the front league IIMs such as IIM Ahmedabad, sources said.
The meeting today came in backdrop of the opposition from these IIMs and from former alumni of these premier institutes who are occupying high positions in the corporate world.
Sources said the meeting was attended by IIM directors of a committee set up by the HRD Ministry to draft the Bill.
The directors are believed to have taken note of the feedback from different quarters, sources said, even as directors remained tight-lipped about their deliberations.