I like ur points.
and u know wat.. if v challenge Sec 39.. we'll surely win. its not only unconstitutional, its arbitrary and without any justification behind it. its against law of natural justice. also against the main goals and objectives of ICAI and any educational institute.
U people know that in USA there are 2 separate bodies: 1. is which prepares CPAs and other is that which keep the control of profession.
But in India.. everything is being done by ICAI. I think its high time to separate the functions of 2 natures into two bodies!