13 August 2009
IF any person appeared for all the papers of a group and scored 60 or above in one or more (but not all papers) of the group but didn't qualify the entire group, the paper in which he scored 60 or above shall be termed as exempted subject for next 3 terms and he shall not be required to appear for such papers. provided that such exemption shall continue for maximum of 3 terms OR till the waive the exemption by a letter to ICAI, which ever is earlier
Further provided that exemption once waived can not be restored.