"The appellant (CFA) is permitted to hold examination on June 8 which has been fixed for this year. However, examination shall be subject to the result of the writ petition," a bench comprising Chief Justice A P Shah and Justice S Muralidhar said.
"Prima facie, the AICTE Act is not application (to CFA Institute)," the bench said while making it clear that further enrollment by the Institute will be done with the approval of this court.
The court passed the interim order on a petition by US-based Chartered Financial Analyst (CFA) Institute challenging the single bench order disallowing it from conducting examinations in India.
Senior advocate Shanti Bhushan, appearing for the Institute, today submitted that it did not require any approval from AICTE to run its self-study course as it was not imparting any technical education.
Holding test and making its course-material available to its students cannot be termed as imparting technical education.
However, AICTE's counsel submitted that self-study course run by CFA Institute in India was a financial management programme and hence required AICTE's approval.
