The Delhi high court on Thursday allowed Chartered Financial Analysts (CFA) Institute, a US-based institute providing self-study courses, to conduct examination scheduled for June 3.
The order dated May 18 is stayed till the writ petition is disposed-off and the CFA can go ahead with the examination which is scheduled to be held on June 3, Justice B D Ahmed said, while pronouncing the verdict on CFA's petition.
The court, however, made it clear that the order is limited only to the extent of conducting examination and all other activities would not be carried out by the institute in accordance with the order passed by AICTE on May 18.
The court had on Wednesday reserved its order on a petition filed by the US-based institute that seeks to quash AICTE's directive restraining its operations in the country.
The CFA had sought a direction from the Delhi High Court to allow it to impart education and conduct exams in the country.
Challenging the notice of All India Council for Technical Education (AICTE), which had directed it to cease operations in India with immediate effect, the CFA said its 7,000 students were scheduled to appear in the June 3 exam.
AICTE had issued notice after the Guwahati High Court, while hearing a petition of Institute of Chartered Financial Analysts of India (ICFAI), had directed it to look into the matter.
ICFAI had alleged that AICTE and UGC were not taking any action against CFA for allegedly running an unapproved technical programme in India.
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