Chartered banned?

Yes i agree with you my friend...

Word CHARTERED should be used only by those institute set up under ACT passed by parliament like our ICAI

The Universities and some other professional bodies are constituted under different Acts of Parliament and Assembly (I believe that you have used the word Parliament not in strict literal sense but in its spirit to include the State Assembly as well). So as per your view all the Universities/ Institutes constituted under an act should be authorised to use the word Chartered ? ( I think there should be some minimum starndard before granting the authority to use the word).

It doesn't matter as it does not gonna make diff. the court cases would go forever on the debate.