Delhi HC permits CFA exams in India

Press Trust of India / New Delhi May 27, 2008, 17:09 IST



In a relief to CFA students, the Delhi High Court today allowed US-based Chartered Financial Analyst Institute to conduct examination in India scheduled on June 8.



"The appellant (CFA) is permitted to hold examination on June 8 which has been fixed for this year. However, examination shall be subject to the result of the writ petition," a bench comprising Chief Justice A P Shah and Justice S Muralidhar said.

"Prima facie, the AICTE Act is not application (to CFA Institute)," the bench said while making it clear that further enrollment by the Institute will be done with the approval of this court.


The court passed the interim order on a petition by US-based Chartered Financial Analyst (CFA) Institute challenging the single bench order disallowing it from conducting examinations in India.


Senior advocate Shanti Bhushan, appearing for the Institute, today submitted that it did not require any approval from AICTE to run its self-study course as it was not imparting any technical education.


Holding test and making its course-material available to its students cannot be termed as imparting technical education.


However, AICTE's counsel submitted that self-study course run by CFA Institute in India was a financial management programme and hence required AICTE's approval.

[www.business-standard.com]

Chase your dreams until you catch them !



Edited 1 time(s). Last edit at 05/27/2008 09:18PM by kprofessionals.

here we go again!. what a circus!
my take on this
: focus on your exam preparations.
looks difficult that cfai will be able to arrange logistics for an india exam in 2 weeks.plus, they have nothing to gain by implementing it right now since all of us had willingly signed up for taking this abroad this time around -so no reimbursements etc.

good for dec and 2009 ,though!

the outcome of the writ petition is still some days away -possibly.

Very true Dyslexic!!

I am waiting for the guidelines by CFA Institute. Hope it comes out with a guideline by tomorrow morning...

Chase your dreams until you catch them !

yes guys there is no point in diverting your concentration to this coz we don want what happened last yr ..... rite from 18th may we were in confusion what gonna happen and just 36 hours before the exam High court has given CFAI to conduct exam in india....
what the rubbish .. I guess AICTE was formed for the betterment of indian students but they are ruining our future..
"Lets Hope for Best and Ready for Worst"

But can we know, wat does the statement "The Exams shall be subject to the results of the writ petition" mean???

Wat if the exams are conducted in India n thereafter the result of writ petition turns out negative???

wat will be the status of such exams then??

CFA Institute in India

[cfainstitute.org]

26 May Update

We have learned that a Division Bench of the Delhi High Court has stayed the All India Council for Technical Education order against CFA Institute. This means that we are permitted to give the CFA examination at centers in India.

As there are just days before the 8 June 2008 CFA exams, we are actively studying the potential option of holding those exams in Mumbai in addition to the test centers already established in other countries.

Candidates who have registered to take the June and December 2008 exams outside of India should not change their plans or travel schedules. We will update candidates as soon as we have more information.

Chase your dreams until you catch them !

[economictimes.indiatimes.com]

HC permits CFA exam in India

MUMBAI: The Delhi High Court on Tuesday allowed US-based Chartered Financial Analyst Institute to conduct examination in India scheduled on June 8. This is an interim order on a petition by CFA Institute challenging the single bench order disallowing it from conducting examinations in India.

Says a an official from CFA Institute India, “We have still not received orders. Many students dropped out this year since they had to take the examinations abroad. Nothing can be done now as the enrolments for the examinations have been closed.”

This year, around 4,000 Indian students are taking the examination outside the country compared to 7,000 last June. The judgement has come at a time when the students have already made arrangements of going abroad to take the examination. Says Mehul Shah, a level 2 student, who has registered himself in Singapore for the examination: “It is infuriating.

The judgement has come at a time when I have spent close to Rs 50,000 on my examination. I have lost all faith in the system.” Many Indian students have chosen Kathmandu, Dhaka, Colombo, Singapore, Thailand, Hong Kong and the United Arab Emirates as the test centres.

While making it clear that further enrolment by the Institute will be done with the approval of this court, the bench comprising Chief Justice AP Shah and Justice S Muralidhar said: “Prima facie, the All India Council for Technical Education (AICTE) Act is not applicable (to CFA Institute).”

Last year AICTE, India’s apex body in technical education concluded that CFA Institute has not obtained its approval to conduct the CFA Program in India and must cease all operations in India. The CFA examination, that has three levels (1, 2 and 3) is held once a year in June for the Level 2 and Level 3 and twice a year (June and December) for Level 1.

Chase your dreams until you catch them !

"we are actively studying the potential option of holding those exams in Mumbai in addition to the test centers already established in other countries."

Does that mean they are still thinking of holing exams in Mumabi and nohing is confirmed yet??? and what about other cities?

Dear Yurie,

My gut feeling says that even if they conduuct examinations in India it will be only in Mumbai as 10 days of time is just too less to arrange for logistics.. This is all because of our system..It is better that you concentrate on stuides and wait for a decision in a day or two...



Edited 1 time(s). Last edit at 05/28/2008 11:35AM by amitkhandelia.

what would this line mean "Prima facie, the AICTE Act is not application (to CFA Institute)," the bench said while making it clear that further enrollment by the Institute will be done with the approval of this court"

am to enroll for June 09 L1.

will it be put on hold??

choose a non india center when you enroll. you can always change it back to india in case they hold it in india.