Indian Institutes of Management on Saturday ruled out taking a legal recourse against the drastic reduction in fees 'at the moment' but said all aspects of the government step will be discussed by the board of governors soon.

"It (legal recourse) is totally out of question at the moment. Unless the board meets and discusses all aspects, there is no question about taking the legal step," Bakul Dholakia, director of IIM-Ahmedabad said reacting to the Union HRD ministry decision to drastically reduce the fees for IIMs.

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Ruling out any compromise on the quality of education, Dholakia said the board of governors is likely to be convened 'earlier' than scheduled, to discuss implications of the step and decide future course of action.

"Generally, the chairman convenes the meeting in the first week of April. But in the present situation, it is likely that the meeting is held earlier," Dholakia said.

However, the date has not been fixed, he added.

The board of governors was scheduled to meet on April 2.

Earlier, newspaper reports had said that the Indian Institutes of Management in a bind might seek a legal view over the government's decision to slash fees to Rs 30,000 a year has put.

Although he was non-committal on financial consequences of the step, Dholakia said it was not an 'isolated issue' and asserted that the 'quality' of education will not be diluted.

"No matter what happens, we will not allow the quality of teaching in the institutes to be diluted. Therefore, the whole exercise, when the board meets, will focus on quality and brand image," he added.