February 26, 2010
The Chartered Financial Analyst Institute has been granted a ‘provisional permission’ by the Delhi High Court to register candidates for June, 2010 CFA exam. At the same time, the institute has also been ordered to freeze its operations in India.
The Chartered Financial Analyst Institute (US), is also pulling a case against All India Council for Technical Education (AICTE).In December, 2007, the Delhi High Court had dismissed the CFA Institute’s petition seeking an an overruling of the ban imposed on it. The ban was imposed as the institute had not sought the necessary clearances to conduct a technical programme in India.
Following the order, the CFA Institute approached AICTE in January 2008 to seek approval for its India operations. It had also appealed to the division bench of the Delhi High Court against the December 2007 order. This month, however, CFA Institute publicized itself in the student community in India by means of advertisements in Indian daily – ‘Times of India’. Earlier this month, CFAI management had indicated that its members have requested it to market itself in Asian countries like India and China.
The CFA Institute has notified the candidates registered for an India test centre, that in event of revocation of ‘provisional permission’ / cancellation, the institute would either refund fees or suggest a test centre outside India.
This means that any candidates considering a June 2010 test center in India should be fully aware of the risks and uncertainty of the situation. All test centers have limited seats, and test center change requests are granted on a first-come, first-served basis.
June 2010 candidates may select from test centers within India or any test centers worldwide, including many in the Asia Pacific and Middle East regions. Candidates for the December 2010 exam must select a test center outside of India.
Due a large number of students opting for test centres close to India, the registrations for the CFA test center in Kathmandu, Nepal (KAT) is already full to the capacity for June 2010 exam.