ICAI Files Affidavit In SC Over PIL Asking For A Stay On ‘Opt-Out’ Scheme

The Institute of Chartered Accountants of India (ICAI) on Friday filed an affidavit in the Supreme Court in response to the PIL asking for a stay order on the body’s ‘Opt-Out’ scheme, which it had proposed for the CA Exams 2020 slated to be held in July. 

Apart from ICAI’s ‘Opt-out’ scheme, the PIL also sought more exam centres and better precautions amid the pandemic for the CA students who choose to appear in the May cycle exam between July 29 and August 16.

The ICAI had on Friday sought time from the apex court to file an affidavit in response to the PIL. The hearing for the matter is slated for Monday before the top court. 

ICAI puts forwards the ‘opt-out’ option

The ICAI in an interesting decision has announced that the CA Exams 2020 to be held in July will have an ‘opt-out option’. In a public statement, The Institute of Chartered Accountants of India’s spokesperson stated that they are committed to conduction the July 29, 2020 examinations even if only one student shows up. However, in light of the COVID-19 pandemic, many students are anxious and worried about their health. Which is why students (why have submitted online applications for May 2020 Examination cycle) will be given an ‘opt-out option’.

With this ‘opt-out option’, students will be able to carry forward their exam candidature to the upcoming November 2020 examination cycle. Thanks to this opt-out option, all students will be able to carry forward their examination fees and exemptions that they had registered for the July 29, 2020 exams. For all those who choose to opt-out, their July exams will be considered as cancelled / not counted. 

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