| The Chartered Financial Analyst (CFA)
Institute’s level I exams scheduled for December 2007, registrations
for which began this September, might not be held in India. |
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| “We are following the court’s order by not admitting
new candidates in the course. It is bad for the Indian candidates as
they will not be registered even if they are ready to write the exam at
a centre outside India,” said a CFA official. |
| |
| With the institute’s writ petition before the Delhi
High Court — challenging the All India Council for Technical
Education’s (AICTE) decision prohibiting the CFA programme in India —
pending, it has decided not to accept any registrations from Indian
candidates wishing to write the December 2007 level I exam even if they
wish to sit for the exam in any foreign country. |
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| This implies the institute will not register fresh candidates for the programme from India. |
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| The institute’s president and CEO, Jeff Diermeier
has informed the Indian CFA aspirants about this development. A
statement on the India website reads: “In view of the ongoing legal
proceedings, we may not be able to hold the CFA exam in India on
December 2, 2007 as scheduled. If we are unable to hold the exams in
India, CFA Institute will refund your enrollment and registration
fees.” |
| |
| On May 31, the Delhi High Court stayed the All India
Council for Technical Education’s (AICTE’s) order banning CFA’s Indian
operations, but only with respect to the stay on examination. It ruled
that all the other issues of application and registration would be
heard later. |
| |
The institute had, on May 24, moved the Delhi High
Court seeking a stay on AICTE’s-notice to wind up its operations in
India. AICTE had issued a notice to the CFA institute on a case filed
by the Hyderabad-based Institute of Chartered Financial Analysts of
India (ICFAI), which questioned CFA Institute’s legality of operating
in India with out necessary approval from the AICTE.
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With the institute’s writ petition before the Delhi
High Court pending, it has decided not to accept any registrations from
Indian candidates wishing to write the December 2007 level I exam
On May 31, the Delhi High Court stayed the All
India Council for Technical Education’s (AICTE’s) order banning CFA’s
Indian operations, but only with respect to the stay on examination
The institute had, on May 24, moved the Delhi High Court seeking a stay on AICTE’s-notice to wind up its operations in India |
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