CFA verdict awaited

Around 7,000 CFA students await the Delhi High Court's verdict on whether or not the Chartered Financial Analyst (CFA) Institute will be allowed to conduct the exam as per schedule on June 3.

With the hearing on the case over, the High Court is expected to announce the verdict on Thursday (May 31).

The CFA institute on May 24 had moved the Delhi High Court seeking a stay on the notice from All India Council for Technical Education (AICTE) to wind up its operations in India.

Meanwhile, the Agartala Bench of the Guwahati High Court, in an interim order, upheld the notice sent by the AICTE asking CFA institute to immediately stop all operations in India.

In March 2007, Hyderabad-based Institute of Chartered Financial Analysts of India (ICFAI) had challenged the US-based foreing institute in Guwahati High Court questioning it legality of conducting the course in India.

On May 18, the All India Council for Technical Education (AICTE) had served the notice on the Chartered Financial Analyst's Institute of America (CFAI) to cease its operations in India as it was "flouting regulations".

Upholding the ban, the Guwahati high court ruled, "CFAI is hereby restrained not to indulge in any such activities which may go or is treated to be contrary to provisions of the law. All admissions, registrations and other activities including examination being conducted shall have no value and force in the eyes of law."