The Institute of Chartered Accountants of India (ICAI) on Monday submitted before the Supreme Court that the May cycle exams, slated to be held in July-August amid the COVID-19 pandemic, have been postponed till November 2020.
Ramji Srinivasan, the lawyer appearing for the ICAI, submitted before the apex court bench that the institute had decided not to hold the CA examinations this semester and added that it is likely to postpone the same till November 2020.
A two-judge bench headed by Justice Uday Umesh Lalit and also comprising Justice Sanjiv Khanna disposed of the plea after hearing the submissions of ICAI.
The apex court, however, granted the petitioner the liberty to make a representation to the ICAI for remaining issues, if any. ICAI will have to make a decision on the same within four weeks.
The apex court was hearing a petition filed by Anubha Shrivastava Sahai, the President of India Wide Parents Association, seeking directions to conduct the exams at a large number of centres amid appropriate precautions to prevent the spread of COVID-19.
Lawyer Alakh Alok Srivastava had appeared for the petitioner before the top court and was arguing through video conferencing in the matter.
The plea also sought a stay on the "opt-out" scheme for around 3.46 lakh CA students, who were scheduled to appear in the May cycle exams, that was earlier set to be conducted by the ICAI between July 29 to August 16.
The ICAI had given its candidates, who had already submitted an online examination application for May 2020 Examination cycle, the option to opt-out from May 2020 examinations and carry forward their candidature to the next examination.
The top court had earlier suggested the ICAI consider the students who are unable to appear for the exam to be considered an "opt-out case" even if they don't choose the same.