About LL.M. Program
The LL.M. program in Investment and Securities Laws is an advanced program of legal study that is customized to the needs of the students and working legal professionals. Having committed to provide the highest quality of education in the field of securities markets, the NISM has entered into collaboration with India’s premier Law University, Maharashtra National Law University, Mumbai (Hereinafter referred as MNLU) for offering this LL.M. program in Investment and Securities Laws. This specialized LL.M. program, designed primarily for the law students intending to work in the financial markets, offers full-time, intensive academic training in the legal regulation of securities and investments in India.
In line with our mission for the academic excellence, the course offers depth of background in a broad array of topics arising out of the corporate law and securities regulation topics including the regulation of issuance of securities, secondary trading of securities, market regulation, enforcement issues, corporate finance, investment by a person resident outside India, investment advisers, derivatives, regulation of banking and financial institutions, competition law and insolvency laws. This course offers an introduction to the three most important securities laws: The Securities Contract Regulation Act of 1956, Securities Exchange Board of India Act of 1992 and the Depositories Act of 1996. The course also explores the scope of more than 39 regulations framed by SEBI and its impact on structured growth of securities markets in India. The course also focusses on learning the tools of documentation related to the securities market transactions, which would be helping in understanding the nature of disputes that arise in a financial market.
The program will be delivered by the expert faculty members drawn from both NISM and MNLU. The course will also engage some of the nation’s leading advocates in the field of corporate law and securities laws, as well as officers from various financial services regulators, whose work is oriented more toward practice and the profession, as visiting faculty. The Institute also invites from time to time professors of the foreign universities and financial market experts of other countries to take guest lectures.
LL.M. students are required to be in residence at NISM during the full one academic year. The course also offers practical SMART lab training to the students to make them understand various processes and use of the technology in the securities markets.
Dedicated to enhancing an interdisciplinary legal and securities market education for the academic community, as well as for experienced legal and business practitioners related to financial markets, the course provides a scope to the sharpening of skills and learning the tools to be an effective business lawyer.
Program Architecture
Trimester 1
| Paper | Paper Title | Credits | Marks |
|---|---|---|---|
| General paper -1 | Research Methods | 3 | 100 |
| General Paper-2 | Law and Justice in a Globalized World | 3 | 100 |
| General Paper-3 | Comparative Public Law and Governance | 3 | 100 |
| General Paper 4 | An Overview of Securities Markets
( Foundational topics along with SMART Lab) |
2 | 100 |
Trimester 2
| Paper | Paper Title | Credits | Marks |
|---|---|---|---|
|
Special -1 |
Company Law ( Advance concepts related to Legal setting of Corporate Finance, Management and Governance) |
2 |
100 |
| Special -2 | Securities Regulations-1 | 2 | 100 |
| Special-3 | Competition Law and Policy | 2 | 100 |
Trimester 3
| Paper | Paper Title | Credits | Marks |
|---|---|---|---|
| Special -4 | Banking and Insurance | 2 | 100 |
|
Special-5 |
Investment Laws (Covering Securities Regulations-2) and Laws related to Foreign investment( FEMA Act, 1999, Joint venture, Foreign collaboration and others) |
2 |
100 |
| Special-6 | Law of Insolvency and Bankruptcy | 2 | 100 |
Dissertation and internship/ field research/ project
| Paper | Paper Title | Credits | Marks |
|---|---|---|---|
| Special -7 | Dissertation | 5 | 200 |
| Special-8 | Professional Certifications (Four Certifications)* | 2 | 100 |
| Total number of credits | 30 | 1300 |
* The students of LL.M. shall have to complete the following certifications during their course of study, as these certifications are part of the academic requirements of this program:
- NISM-Series-VII: Securities Operations and Risk Management Certification Examination (to be completed during the 1st trimester)
- NISM-Series-VI: Depository Operations Certification Examination (to be completed during the 1st trimester)
- NISM-Series-V-B: Mutual Fund Foundation Certification Examination (to be completed during the 2nd trimester)
- NISM-Series-VIII: Equity Derivatives Certification Examination (to be completed during the 2nd trimester)
Students of LL.M. shall register and enrol for these certifications at their own cost and must submit the passing certificates before the specified timelines in order to fulfil their course completion requirements.
Admission Procedure
Eligibility Norms
An LL.B. Degree or an equivalent examination with a minimum of Fifty percent (50%) of marks or its equivalent grade in case of candidates belonging to General/OBC/PWD/NRI/PIO/OCI categories and Forty-Five percent (45%) of marks or its equivalent grade in case of candidates belonging to SC/ST categories. Candidates appearing /awaiting results of the qualifying examination in May/June 2023 can also apply and appear in the Admission Process. However, such candidates shall have to obtain the requisite eligibility by the cut-off date, which will be notified along with the notification of admission results. Candidate who is placed in compartment in the year of the admission would be treated as ineligible.
Eligibility for Industry/ institutions sponsored Candidates
Industry/institutions sponsored Candidates: The candidates who are working with the Regulators (SEBI, RBI, PFRDA,IRDA, IBBI, CCI, etc.), Market Infrastructure Institutions (NSE, BSE, MCX, NSDL, CDSL etc.), Banks and Financial Institutions, Securities Market Intermediaries, Government Departments, Judiciary and Advocates for a period of three years and above are eligible to apply under this category. The other criteria regarding the eligibility for admission for the industry/institutions sponsored candidates will be the same as applicable to the other candidates.
Selection Criteria
All the candidates (including the Industry/ Institutions sponsored and the Foreign national/NRI/NRI sponsored candidates) will be selected based on their performance in Online Test and Online Interview.
Application Fee: Rs. 1,000/-
How to Apply?
1. New user has to register by clicking on “Click here to Apply Now” button.
2. Upon successful registration, a User-ID and Password will be sent to registered email ID and mobile number of the candidate.
3. Fill the Application form and upload all relevant documents.
4. Complete the application form by paying the application fee – Rs. 1000/-
Announcement of Selected Candidates
The selected candidates will be intimated via e-mail. Selected candidates would be required to pay the token money and remaining part of first instalment of fees within the due date mentioned therein.
Provisional admission offered to selected candidates who do not pay the fees on or before the stipulated date would automatically stand cancelled.
Important Dates for AY 2023-24
| S. No. | Particulars | Date |
|---|---|---|
| 01 | Start Date for Application | March 20, 2023 |
| 02 | Last Date for Application | May 17, 2023 |
| 03 | Date of Online test | May 21, 2023 |
| 04 | Date of Online Interview | June 5 to June 10, 2023 |
| 05 | Declaration of 1st Merit List | June 19, 2023 |
| 06 | Declaration of 2nd Merit List | June 26, 2023 |
| 07 | Declaration of 3rd Merit List | July 03, 2023 |
| 08 | Last date for payment of fee | July 10, 2023 |
| 09 | Closure of Admission | July 11, 2023 |
| 09 | Commencement of Program | July 15, 2023 |
Frequently Asked Questions
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Dr. Rachana Baid
Professor, Dean (Academics) & HoD - School for Securities Education (SSE)
Dr. Rachana Baid
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Name: Dr. Rachana Baid Designation: Professor, Dean (Academics) & HoD - School for Securities Education (SSE) Email: rachana.baid@nism.ac.in Dr. Rachana Baid is Professor at National Institute of Securities Markets. She has been teaching, consulting, and training in financial markets since 1996. She has been a visiting faculty with XLRI Jamshedpur, S.P. Jain Global School of Management, Mumbai, Singapore and Dubai. Earlier she has taught courses at IIM-Indore, NMIMs Mumbai, and few other management schools. She has worked with Indian Institute of Capital Markets (IICM) for 9 years from 2001 to 2010. At IICM she has conducted more than 200 workshops and training sessions for the professionals in the Indian capital market as well as for the participants from other countries. She has conducted training sessions for the officers of IAS, IRS, and CBI as well as fund managers and senior bankers from the private sector banks and mutual funds.
She has been associated with consultancy assignments for clients in the public sector & private sector. She was the member of a team constituted by BankWorld Inc, Washington, DC as a local capital market expert to assess the United States Agency for International Development (USAID) assistance to Securities and Exchange Board of India (SEBI) and its future technical assistance needs. She has worked on assignments for the government of India in Investor Education & Protection. She has been involved in consultancy/advisory assignments for UTI mutual fund and the Association of Mutual Funds in India. She was part of the secretariat to assist the panel for National Award for Excellence in Corporate Governance 2001.
She has done Ph.D. in finance (2001) and Masters in Commerce (1995) from Osmania University
She has about a dozen research papers to her credit in leading journals.
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Dr. Rajesh Kumar
Professor - School for Securities Education (SSE)
Dr. Rajesh Kumar
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Name: Dr. Rajesh Kumar Designation: Professor - School for Securities Education (SSE) Email: rajesh.kumar@nism.ac.in Contact: 91-2192668412 Dr. Rajesh Kumar, Professor
Dr. Rajesh Kumar is a skilled and qualified teacher of law with more than twenty-two years of experience in the field of law. After completing his LL.B. Degree from the Campus Law Centre, University of Delhi in 2001, he enrolled as an advocate with the Bar Council of Delhi and practiced mainly in Civil, Writ, Commercial, and Criminal matters before the High Court of Delhi and District courts of Delhi. Subsequently, he completed his LL.M. from the University of Delhi, cleared the U.G.C. NET Examination, and started his teaching career in 2005. He taught corporate and investment laws at various law colleges and universities starting from IMS Unison Law School, Dehradun and ICFAI Law School, Dehradun, VIPS (affiliated with G.G.S.I.P. University, Delhi), Amity Law School, Delhi (affiliated with G.G.S.I.P. University, Delhi) and National Law University, Ranchi. Before joining this institute as an Associate Professor in February 2018, he was working as Assistant Dean of NLU, Ranchi. He was promoted to Professor in October 2023. During his teaching career of more than 18 years, he held various administrative responsibilities including the positions of Chief Proctor, Controller of Examination, and Assistant Registrar. He completed his Ph.D. in securities law in the year 2012 from the University of Delhi. He has written many articles and four books on different subjects, including his books on securities law (ISBN No- 978365983044, Satyam Law International, Delhi, 2015) and Competition Law (ISBN NO -9789382823520, Satyam Law International, Delhi, 2017). His areas of expertise include Corporate Law, Securities Law, Corporate Finance, Competition Law, Mergers and Acquisitions, Banking and Insurance, and International Investment Law. He has also participated in various conferences and seminars organized by various institutions and has also been a speaker in many such conferences and seminars. His teaching interest lies in various subjects and areas related to Securities Laws and regulations, Competition laws, corporate laws, Banking and Insurance, mergers and Acquisitions, and International Investment Laws. He teaches in various academic programs and courses conducted by NISM. Apart from teaching, he is actively involved in organizing training programs for the officers of SEBI, government officers, and the securities market regulator of the foreign jurisdiction. He is also engaged in developing Policy papers on various topics related to the financial markets.
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Mr. Shailesh Pingale
Member of faculty - Incharge of Academic Compliance Cell (APU)
Mr. Shailesh Pingale
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Name: Mr. Shailesh Pingale Designation: Member of faculty - Incharge of Academic Compliance Cell (APU) Email: shailesh.pingale@nism.ac.in Mr. Shailesh Pingale joined NISM in December 2021 on deputation from SEBI; currently Mr. Shailesh is heading the Academic Compliance Cell at NISM. Academic Compliance Cell is responsible for setting and advancing the academic activities pertaining to all long-term academic programs offered by the institute. He also looks after the compliance of AICTE and UGC at NISM. Further, he has been entrusted with the role of program director for various corporate training programs conducted by the institute. He has successfully conducted various training programs for the participants from SEBI, RBI, CEIB etc.
He has more than 14 years of expertise in the area of securities markets. He was associated with Securities and Exchange Board of India (SEBI) since 2008. After qualifying as a Chartered Accountant (CA) in the year 2007, he has joined SEBI. At SEBI, he worked in various departments such as Investigation Department, Derivatives and New Product Department, Integrated Surveillance Department etc. He has vast experience in the area of frauds investigation, derivatives, taxation etc. He has also worked with the SEBI-RBI standing technical committee, which was instrumental in establishing currency derivatives trading in India. In addition to the above, he was also involved in delivering lectures on financial literacy for college students in various parts of western region.
As a member of faculty, he is taking sessions on various topics such as Fraud Investigation, Derivatives, SEBI Compliance, Financial Statement Analysis etc. Mr. Shailesh is a commerce graduate and Company Secretary (ICSI). He is also associate member of Institute of Chartered Accountants of India. He is also an avid sports lover and passionate about reading market related articles.
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Dr. Mohd Meraj Inamdar
Assistant Professor - School for Securities Information and Research (SSIR)
Dr. Mohd Meraj Inamdar
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Name: Dr. Mohd Meraj Inamdar Designation: Assistant Professor - School for Securities Information and Research (SSIR) Email: Meraj.inamdar@nism.ac.in Contact: +91-2192-270140 / +91 8275325356 Dr. Inamdar is a faculty member at NISM. Prior to NISM, he worked for Indian Institute of Capital Markets, Institute of Cost Accountants of India chapter’s and IIT-Bombay CSE.
He has 11 years of experience in teaching & research and two years of corporate experience.
Dr. Inamdar has several publications in indexed journals and has won two best research paper awards in international conferences. He has conducted a various programs for international delegates as well as training programs for SEBI, RBI, IRS, IES officers and market intermediaries.
At NISM, Dr. Inamdar teaches ESG finance, quantitative methods and data analyses, derivatives options trading strategies (through algo trading simulator) and technical analysis. He is a member of the organising committee of NISM conferences. He has completed M.com, MBA (Finance), CWA (Final), and PhD in the field of ESG finance from Mumbai University
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* Senior Professionals and Subject matter Experts from the Securities Markets would also be taking sessions as and when required.
National Institute of Securities Market (NISM) is the institute which comes to the minds of the recruiters once the placement session starts. We focus not only on career-oriented growth but offer versatility. Our Faculty Team and Student Placement Committee are responsible for consistent growth in our placements record.
Today, graduating does not mean getting a degree certificate alone but equipping one with in-depth knowledge of the subject. NISM helps the students to achieve this by conducting various workshops, guest lectures and seminars. It has also become mandatory that the student instills skills and an important part of which is the Summer Internships which takes place in the month of April, every year.
The Institute is passionate towards grooming the students as the efficient professionals and are successful in assisting the placement by inviting Exchanges, Intermediaries, Brokers, Depositories, Law Firms, Merchant Bankers and many other market players.
Download Placement Brochure 2022-24.Click here
Download Internship and Placement Report 2020-2021.Click here
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