On May 31, the Delhi High Court allowed the Chartered Financial Anlysts (CFA) Institute, a US-based institute offering self-study courses, to conduct their examination, which is scheduled for June 3.

The order, dated May 18, is stayed till the writ petition is disposed off and the CFA can go ahead with the examination which is scheduled to be held on June 3, Justice B D Ahmed said, while pronouncing its verdict on CFA's petition.

The court, however, made it clear that the order is limited only to the extent of conducting the examination; all other activities would not be carried out by the institute in accordance with the order passed by the All India Council for Technical Education (AICTE) on May 18.

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On May 30, the court had reserved its order on CFA's petition that seeks to quash AICTE's directive restraining its operations in the country.

CFA had sought a direction from the Delhi High Court to allow it to impart education and conduct exams in the country.

Challenging AICTE's notice, which had directed it to cease operations in India with immediate effect, the CFA said 7,000 students were scheduled to appear in the June 3 exam.

AICTE had issued notice after the Guwahati High Court, while hearing a petition from the Institute of Chartered Financial Analysts of India (ICFAI), had directed it to look into the matter.

ICFAI had alleged that AICTE and the University Grants Commission, UGC, were not taking any action against CFA for allegedly running an unapproved technical programme in India.