Agartala, March 20 (PTI): The Agartala bench of the Guwahati High Court has directed the Ministry of Human Resources Development and All India Council for Technical Education (AICTE) to examine the allegations made by Tripura's ICFAI University against the American CFA Institute.

In a recent order, the court observed that the statutory authorities were obliged to take action as contemplated by the regulations in respect of foreign universities and institutes operating in India.

The ICFAI had moved the court alleging that the US institute was marketing the Chartered Financial Analyst (CFA) programme in India without obtaining necessary permission.

The petitioner said that ICFAI was mandated to conduct the CFA programme in India under regulations and award the CFA charter to successful students.

The ICFAI also alleged that the US institute was just an association of individuals without having statutory recognition in the US or anywhere in the world.

The court has given both HRD ministry and AICTE six weeks to place its reports.