ICAI CA Exam 2020 (May Cycle): The Supreme Court on Monday gave a relaxation to CA students, and ordered a fexible ‘Opt-out’ scheme for the upcoming CA Exam 2020 in July 29 and August 16 in view of the COVID-19 pandemic situation.Also Read - Tale of Two Siblings: Nandini Tops ICAI CA Final 2021, Sachin Scores Rank 18

A bench comprising of Justices AM Khanwilkar, Dinesh Maheshwari & Sanjiv Khanna was hearing a plea against the Institute of Chartered Accountants of India (ICAI) for a stay order on the opt-out scheme for May Cycle of the CA Exam 2020. The SC bench asked the ICAI to issue a fresh notification in this regard. Also Read - ICAI CA July 2021 Exam: Final and Foundation Results Likely to be Out Soon, Check Probable Dates Here

The PIL was filed last week and the CA Board had sought time from the top court on Friday to file an affidavit in response. The petition had also demanded more exam centres. Also Read - ICAI Recruitment 2021 for Assistant, UDC and LDC Post: Download Notification on icai.org | Know Salary, Eligibility Here

Announcing its decision, the ICAI said today that they will keep the ‘opt-out’ option for students unable to travel due to the COVID-19 situation. However, they will proceed with the July 29 CA exam ‘even if only one student shows up’.

Student choosing the opt-out scheme will be able to forward their candidature to the next exam cycle in November. Students will also be able carry forward their exam fees and exemptions as registered in the May cycle for November.

For those who opt-out, the July examination will be considered null or not counted.

The next hearing the case is slated for July 2.