The Financial Express – Hyderabad- March 31, 2007

US institute faces the heat from AICTE

In compliance with the order of Guwahati High Court, Agartala Bench, the All India Council for Technical Education (AICTE) has issued a show cause notice and has asked the US-based CFA Institute of Charlottesville to refrain from issuing public notices seeking admissions to unapproved courses.

In a letter to the director, The Indian Association of Investment Professionals (which is the Indian representative for the foreign institute) along with a copy to the CFA Institute of Charlottesville, AICTE said that CFA has been operating its educational activity in the country without the Council’s approval. As per the existing regulations, foreign universities and Indian institutions collaborating with foreign universities have to obtain AICTE approval to conduct technical courses.

In the light of the regulations, AICTE has given a show cause notice as to why action should not be taken against it as per the regulations notified by the Council.

Further, it has given 15 days time for response and has asked to refrain from public notices seeking admissions to unapproved courses.

To recall, the Guwahati High Court bench had admitted the petition filed by the ICFAI University, Tripura to give notice to the CFA Institute and had directed AICTE and the ministry of HRD, Government of India to take action against the CFA Institute in six weeks.

It has recently come to the notice of the ICFAI University that an American institute by the name “CFA Institute” has been marketing its program and admitting students in India without any approval from the Government of India. Consequently, the ICFAI University filed a petition before the Guwahati High Court bench against the activities of the American institute on the grounds that it is an association of individuals without having any statutory recognition for its charter in the US, India or anywhere else in the world.

Being a foreign institution, the American institute has to obtain approvals from UGC or from AICTE. However, the American institute has no such approvals; but has been issuing frequent advertisements to attract enrolments from Indian students, conducting examinations in India and awarding certificates.