"It is true that Professor Barua has been appointed as the new director of the institute.  We are just waiting for an official intimation from the HRD ministry," confirmed a source close to the development. It is learnt that the ministry will be informing the newly-appointed directors soon. It has already notified the Chairperson, Board of Governors for IIMA as well as IIMB.

A faculty of Production and Quantitative Methods, Prof Barua is also a visiting faculty at academic institutions in the United States, The Netherlands, Singapore, and Cyprus.  One of the leading candidates for the post of Director along with Prof G Raghuram at IIMA, Prof Barua, is also on board of several large organisations including Indian Oil Corporation [Get Quote].

Currently, the 56-year-old capital market expert is also the chairperson PGP at the institute.

The post of Director was vacated by Prof Bakul Dholakia when his term ended last month.  Prof Barua, who is expected to take charge of the post as soon as he receives an official intimation, was out of country and could be reached for comments.