The Institute of Cost and Works Accountants of India (ICWAI) is understood to have sent a letter to the AICTE (All India Council for Technical Education) complaining about the operations of the UK-based CIMA (the Chartered Institute of Management Accountants) in India.
According to highly-placed sources in the ICWAI, the letter was sent yesterday. However, CIMA Office in Mumbai did not seem to be aware of the complaint.
The ICWAI's move comes hot on the heels of the AICTE's diktat against the US-based CFA Institute, based on a decision of the Gauhati High Court (Agartala Bench) dated March 12 on a petition filed by the Institute of Chartered Financial Analyst University, Tripura. The ICFA had protested against the CFA Institute functioning in India in violation of the AICTE guidelines.
Meanwhile, an order passed by the Gauhati High Court yesterday states that all "admissions, registrations and other activities, including examination being conducted" by CFA Institute in India "shall have no value and force in the eyes of law". A copy of the order is posted on the University's site (www.iutripura.org) .