Program Architecture

* 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:

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.

Process of Evaluation and Examinations for Award of Degree

Duration of LL.M

The course offered is One Year LL.M. Degree in conformity with the UGC Guidelines for introduction of One Year LL.M. Degree Program, 2012. (Notification dated 18.01.2013). Duration of the course is one year, arranged in trimesters.
The intense academic activity during each Trimester will be for at least 12 weeks of teaching/research/practical assignments/seminar presentations focusing on the subjects offered, in and outside the classroom. Students are allowed a maximum of two years from the date of admission to complete the requirements of the degree

Credit System

The Program will be of Thirty (28) Credits comprising of:

1. Three (3) mandatory courses of three (3) credits each and one foundational course of two (2) credits
2. Six (6) courses with two (2) credits each.
3. One Dissertation of three (3) credits.
4. Professional Certifications (Four Certifications) for a total of two (2) credits.

Attendance

Every student has to secure a minimum of 80% attendance in all the subjects taken individually in each Trimester to be eligible to appear in the End-Trimester examination. Student, who falls short of requisite attendance, shall not be permitted to take the end of the course/ end Trimester examination.

Note: Shortfall in attendance may be condoned on grounds of illness of the student and other special grounds of cocurricular/assigned University academic and administrative activities authorized by the CPGLS. The recommendation of the CPGLS on this behalf may be approved at the Vice-Chancellor on merit. Provided that minimum attendance requirement prescribed by the UGC shall be maintained

Evaluation Process

The evaluation of students in the course will be continuous.
Each paper will be evaluated for 100 marks as under:
One or more Research Article/ Seminar Paper/Research Project of 30/35 marks with an internal division of marks between the various components viz. literature review, synopsis, draft, final submission and viva/presentation or as indicated by the course for the relevant academic year.

Provided that-

• While assigning the research topics, the last dates for submission of each component and presentation/viva shall have to be stipulated in the academic calendar.
• Viva/presentation shall be allowed only after final submission of the research article.
• Mid-Semester/Trimester Examination for 20/15 marks (one-hour duration);
• End-Semester/Trimester Examination 50 marks. (two hours’ duration)
• All papers shall have uniform method of examination as above and evaluation pattern except dissertation. However, the  CPGLS with prior approval of the Vice-Chancellor may introduce changes in the research component and evaluation process to adapt the best practice through continuous monitoring.
• Repeat / Improvement examination will be held for students who were either absent with prior approval or had failed in the Semester/Trimester examination or who wish to improve their grade provided a repeat examination on the subject is conducted for other reasons in this clause
• The repeat examination shall be conducted only once (excluding the main examination) and grade secured at the repeat examination shall carry ‘R’ (Re-appear) at the top of the Grade secured. The same shall be recorded in the Grade Sheet.

Dissertation

Dissertation is an integral component of postgraduate programmes. Topics of Dissertation shall be proposed and submitted by students within six weeks of the commencement of the first Semester/Trimester. The CPGLS will assign a guide to students for their Dissertation. Each student shall ensure finalization of their Dissertation proposal in consultation with the guide within 90 days of start of academic year or on the scheduled date as mentioned in the Academic calendar, notified by CPGLS.

The dissertation proposal shall contain –

• Brief elucidation about the research problem substantiated by literature survey, defined research objective, research
  questions, relevance of the study and scheme of chapters, the research design and the timeframe.
• It shall be within 3000 words.
• The students shall consult as intensively as possible with the guide subject to the mutual time slots.
• The dissertation shall have to confirm to the standards of a well-documented research thesis.
• The word limit for the Dissertation shall generally be between 15,000 to 18,000 words excluding table of contents, table of cases, table of statutes, abbreviations, foot notes, bibliography, appendix etc.
• The Cover page, Supervisor’s Certificate, Student’s Declaration and the preface shall be as prescribed in the annexure.
• The date of submission of dissertation shall be 31st March of the academic year or a date specified in the academic
  calendar, notified by CPGLs.
• The evaluation of the Dissertation shall be done by the guide and an external examiner who shall be appointed by the ViceChancellor from a panel of experts provided by the concerned guide. The dissertation will be evaluated both by the internal supervisor and the external examiner, and the average marks of the two shall be computed to arrive at the final mark.

Plagiarism, Unfair Means and Malpractices

Students shall submit their written seminar paper/ assignments and dissertations as original work. Plagiarism in seminar paper/ assignments and dissertations shall constitute a serious academic malpractice. Plagiarism, use of unfair means, malpractices and other such academic misconduct shall be dealt as per the University Academic Misconduct Regulations. Plagiarism shall mean and include as is defined in the University Academic Misconduct Regulations.

Degree Awards

The degree will be awarded by Maharashtra National Law University, Mumbai.

Selection Procedure

(I) Interested applicants who fulfil the below-mentioned eligibility criteria are required to register for the LLM (Investment and Securities Laws) 2026–27 (Batch VI) via the registration link https://apply.nism.ac.in/llm.
Applicants for admission to the programme will be shortlisting for interview on the basis of their scores in NISM Aptitude Test 2026 entrance examinations:

• (i) All the interested applicants will undergo NISM Aptitude Test AT 2026 that will examine the Constitutional Law, Jurisprudence, Law of Contract, Company Law and Current Affairs of the applicant.
• (ii) NISM AT 2026 to be conducted on April 12, 2026 (Tentative) from 1130 Hrs to 1230 Hrs.
• (iii)NISM Aptitude Test will comprise of following sections:

Note: Each question will carry 1 marks. There will be no negative marking. All the questions will be multiple-choice questions.

• (iv) Test Location: Online Test (Remote Proctored) can be attempted by candidates from their own location.
• (v) For the candidates in the All India (including Maharashtra) category, based on the performance in the online test, top 150 candidates will qualify for the interview.
• (vi) For Industry/ Institutions sponsored candidates, based on the performance in the online test top 60 candidates will qualify for the interview.
• (vii)For the students under Foreign national/NRI/NRI Sponsored category, based on the performance in the online test, top 20 candidates will qualify for the interview.

• (I) Shortlisted candidates from Stage-III will appear in Stage-IV i.e Online Personal Interview.
• (ii) All shortlisted candidates will be informed by Email or download their call letters to appear in the Online Personal Interview. All the required details like date, time and other guidelines will be mentioned in the call letter.
• (iii) Eligible candidates will receive an Email for the Online Personal Interview process for LLM (I&SL) Admissions 2026-27 (Batch VI).

• (I) The offer of admission to the candidate will be made strictly on the basis of merit/ rank list and availability of seats.
• (ii) The Merit List will be generated based on the valid composite score of Entrance score 2026, Online Personal Interview, Past Academics and Diversity. The merit list for the admissions is prepared as per the weightage given below:
• (iii) The Merit List will be generated based on the valid composite score of Entrance score 2026, Online Personal Interview, Past Academics and Diversity. The merit list for the admissions is prepared as per the weightage given below:

*If the last semester/year results are not declared or available, aggregate marks of previous semesters will be considered for the composite score.

• (I) All the selected candidates will receive a provisional offer letter for admission from apu@nism.ac.in on their registered email ID shortly after the declaration of the merit list. A candidate receiving an admission offer from NISM and accepting the offer within the stipulated date needs to deposit Rs.2,77,000/- as the OAA i.e. Offer Acceptance Amount (or as mentioned in the Offer Letter).
• (ii) An automated receipt and a text message of the transaction will be shared by the associated bank on the registered email id/ mobile no. of the candidate.
• (iii) On acceptance of the admission offer and payment of Offer Acceptance Amount, the candidate will receive his/her confirmation letter for provisional admission to LLM (I&SL) 2026-27 (Batch VI) on his/her registered email ID. The paid OAA will be adjusted with the First Year Programme Fee. If a candidate fails to pay the 1st instalment of First Year Programme Fees by the stipulated date mentioned in the admission confirmation letter, the seat will be cancelled.
• (iv)The fee structure including Hostel and Dining Charges, for LLM (I&SL) 2026–27 (Batch VI) is provided below:

#AC Accommodation on a single occupancy basis. Centralized AC will be available between 09:00pm to 06:00am only Students admitted under Industry/institutions sponsored category are not eligible for placement/ internship assistance.

• (v) Candidates admitted under the Foreign National / NRI / NRI-Sponsored Category are required to pay an additional amount equivalent to USD 10,000 (in INR) over and above the fee mentioned in Table A.

• (i) Final selected candidates who have deposited the Offer Acceptance Amount and received a confirmation letter for provisional admission will be required to report physically (on the stipulated date and time) at the Institute campus for registration, followed by physical verification of educational documents and other testimonials as per the checklist shared at a later stage.
• (ii) The academic session will tentatively begin from July 20, 2026.
• (iii) A single air-conditioned hostel room is allotted to the candidate. Hostel rooms for the Differently Abled Person candidates will be arranged on the ground floor of first floor (preferably).
• (iv) The Hostel and Dining charges mentioned above are applicable for an Academic Year 2026-27. The period of internship (if any) is not included. In case a student wishes to stay in the campus during the internship period, he/she has to bear  additional charges for the same. However, during such period, where the room has been vacated, the student will be allowed to keep their belongings in the locked condition in the room(s) earmarked for the purpose.
• (v) Academic year would be the period beginning on the date of commencement of the program and ending on the date of completion of Trimester III or any date decided by the Institute.

Note:

• (i) Comfortable hostel accommodation, separate for boys and girls, is available on the campus.
• (ii) Hostel fees (accommodation and dining charges), once paid by a student, will not be refunded under any circumstances.
• (iii)The hostels are well equipped with modern amenities and are managed by caring and experienced wardens.
• (iv) NISM Mess and Cafeteria: A spacious, well-lit, and well-ventilated cafeteria on the campus serves nutritious and healthy food to students. A variety of dishes that are both healthy and tasty are prepared by a team of professional dieticians to ensure a well-balanced diet.
• (v) NISM Recreational Facilities: NISM has a world class sports complex and extensive sports facilities. NISM offers Sample opportunities to students for a regular work-out and lifestyle management by providing a host of excellent sports facilities. It has facilities for games like cricket, basketball and volleyball as well as indoor games like chess, carom, table-tennis, badminton, etc. A Gymnasium and a swimming pool is also available for students to enhance their fitness levels.
• (vi) Medical Facilities: NISM provides student safety insurance and basic medical facilities within the campus. An on-call ambulance service is available in case of emergencies.
• (vii) Limited laundry facilities are available on a paid basis on the campus.

Refund Policy LLM (I&SL) 2026-27 (Batch-VI).

• (I) The last date for any withdrawal of provisional admission will be ‘On or before the Registration’ (online/ on campus, as the case may be). The entire fees received from the student, after deduction of the processing fee of Rs. 1000/- (one thousand only), will be refunded to the candidate by the mode of bank transfer to the candidate’s own savings bank account provided by the candidate. The refund requests will be accepted only through the institute’s admission portal, i.e. https://apply.nism.ac.in/llm

• (ii) Refunds will be made automatically within 30-60 days from the date of registration of the program i.e from July 20, 2026. Please provide your own (i.e. candidate’s) correct banking details (Beneficiary Name, Saving Bank Account Number, Bank Name, IFSC code) through the institute’s admission portal i.e. https://apply.nism.ac.in/llm
• (iii) The institute takes no responsibility in case the banking details provided by you are erroneous. Refund request(s) received from any other mode apart from the above-mentioned institute’s admission portal will not be considered under any circumstance. No refund requests will be entertained after registration or the date and time mentioned in the offer letter for provisional admission.

Note:

• (i)The admission criteria for LLM (I&SL) 2026-27 (Batch VI) may be changed before the declaration of the results
• (ii) The information in this document is applicable only for the admissions cycle LLM (I&SL) 2026-27 (Batch VI).
• (iii) NISM reserves the right to change, modify or adopt any new admission process that it deems necessary at any point.
• (iv) The Institute reserves the right to change the Number of Seats, Fee Structure and Course Curriculum from time to time for the LL.M. Program.
• (v) You will receive all admission offers in the form of a letter duly signed by the Academic Program Unit of NISM sent from apu@nism.ac.in. Any offer received from any other email is completely invalid and is not official. All admissions to NISM are provisional till you have completed all formality upon reporting to the institute
• (vi) If at any point of time it is found that the information provided by the candidate is false, incorrect, or misrepresented, the admission offer will stand cancelled
• (vii)NISM reserves the right to change, modify or adopt any new admissions process that it deems necessary at any point.
• (viii) Any dispute concerning Admission for the LLM (I&SL) 2026-27 (Batch VI) would be subject to the jurisdiction of the competent courts within the territorial jurisdiction of the city of Mumbai only.

Our Past Recruiters

Placement Facilitation

NISM’s close connect with the industry will act as an enabler to facilitate the placement of students. The institute
assists placement of the participants by inviting reputed organizations in the investment and securities markets
domain to the campus placement drive. The participants are groomed for performing challenging and exciting roles in the investment and securities markets. The alumni of various other programs offered by NISM have been inducted in the following organizations through the campus placement program:

Important Dates

LLM (Investment and Securities Laws)

Admission 2026–27 (Batch-VI)

FAQ (Frequently Asked Questions)

Q1. What are the unique features of the LL.M. Program in Investment and Securities Laws by NISM & MNLU?

A1. This specialized one-year LL.M. is jointly offered by NISM (an initiative of SEBI) and Maharashtra
National Law University, Mumbai. It blends legal education with deep industry insights, offering hands-on
exposure through simulation labs, case-based learning, and guest lectures by top advocates and regulators.
The interdisciplinary curriculum is designed for those aiming to lead in the financial and legal sectors,
with strong emphasis on securities laws, compliance, and regulatory frameworks.

Q2. What are the Academic Eligibility Criteria for the LL.M. program?

A2. Applicants must hold an LL.B. or equivalent degree with at least 50% marks. Candidates awaiting results
may apply provisionally, but must meet eligibility criteria by the specified cut-off.

For industry-sponsored applicants: A minimum of three years’ work experience with regulators, financial
institutions, legal firms, or market infrastructure bodies is also required.

Q3. Is this entrance examination separate from the CLAT examination conducted by NLU for admission to the regular LL.M. Program?

A3. Yes, this program has a separate application and selection process including an online entrance test
and an online personal interview. CLAT scores are not considered.

Q4. Those who are in last year and waiting for final results, can they apply?

A4. Yes, final-year LL.B. students or those awaiting results can apply. Admission will be provisional until
final mark sheets are submitted and eligibility confirmed by the deadline.

Q5. Who should participate in the LL.M. Programme?

A5. The program is ideal for LL.B. (3-year or 5-year) graduates, legal professionals, practicing advocates,
and industry professionals aiming to specialize in securities and investment laws.

Q6. What is the syllabus of the entrance exam for the LL.M. Program?

A6. The online test comprises questions from the following subjects:

• Constitutional Law
• Jurisprudence
• Law of Contract
• Company Law
• Current Affairs

Q7. Is the LL.M. degree recognized for higher studies and government jobs?

A7. Yes. The degree is awarded by MNLU Mumbai, a recognized public university, and is valid for further
studies and public sector employment.

Q8. Will there be separate classes for industry-sponsored candidates?

A8. No. All students attend the same sessions. However, industry-sponsored candidates are not required to
reside on campus.

Q9. What is the selection process for the LL.M. program?

A9. Admission is based on an online test followed by an online personal interview. Final selection is
determined by interview performance.

Q10. Is distance learning available for this LL.M. program?

A10. No. This is a full-time, intensive residential program, designed for immersive learning.

Q11. Is there any upper age limit for the program?

A11. No, there is no upper age limit for applying.

Q12. How can I apply?

A12. Apply online at https://apply.nism.ac.in/llm.
Register, log in, complete the form, and pay the Rs. 1000/- (Rupees One Thousand Only) application fee online.

Q13. What is the Application Form fee?

A13. You can pay Rs. 1000/- (Rupees One Thousand Only) online via Debit Card, Credit Card, or Net Banking.

Q14. What is the fee for the LL.M. program?

A14. The total fee (including Tuition, Accommodation and Dining Fee) is detailed in the Admission Brochure.
For Indian students, the approximate total is Rs. 4,88,000/- (Four Lakh Eighty Eight Thousand Only).

Q15. What are the options for financing my LL.M. education?

A15. The various options is mentioned below:

• Vidya Lakshmi Portal: Enables application to multiple banks via a single portal. Visit the following link to apply for education loan. www.vidyalakshmi.co.in/Students/
• SBI Education Loan: NISM provides support and reference letters for SBI loan processing.

Q16. Where Does LL.M. in Investment and Securities Laws lead to?

A16. NISM, being an institution established by the Securities market regulator (SEBI), has better connect with the industry. This facilitates remarkable placement prospects for the participants of its academic programs. Further, MNLU, Mumbai has very good placement records of its students. Depending upon the interest of the candidates, the participants may get placement opportunities in in the following fields.

• Legal Professionals (Securities Markets): Market infrastructure Institutions (NSE, BSE, NSDL, CDSL, MCX e.t.c), Intermediary, Mutual fund, Alternate Investment Fund, SEBI
• Legal Researcher: Equities, Debt Markets, Currency Markets, Commodity Markets
• Legal Professionals (Banking): Banks, Financial institutions, Securitization companies, Recovery related work
• Legal Professionals with other regulators like RBI, CCI, PFRDA etc.
• Corporate legal Advisory: Investment related legal advisory,
  Investment related legal advisory, Insolvency Resolution and Restructuring, Valuation, Compliance, Due diligence, Risk Management, Debenture Trusteeship and Custodianship
• Court Practice: Practice in the field of Investment and Securities laws

Q17. What are the campus placement opportunities after completing this LL.M. course?

A17. We provide placement assistance to the students and they are able to get good placements in the various Market Infrastructure institutions, Intermediaries, Banks, Financial institutions and other companies.

Some of the recruiters visiting our campus for the placements are as follows;

• Banks: ICICI Bank, Karur Vyas Bank, Catholic Syrian bank, IDBI Bank, Ratnakar Bank Ltd., South Indian Bank, Indus bank etc.
• Stock Exchanges: National Stock Exchange(NSE), Multi Commodity Exchange (MCX), National Commodity & Derivatives Exchange Limited (NCDEX), Indian Commodity Exchange (ICEX) etc.
• Depository and Depository Participant: National Securities Depository Limited (NSDL), Central Depository Services Limited (CDSL), Stock Holding Corporation of India Limited (SHCIL) etc.
• Mutual Funds: UTI Mutual Fund, SBI mutual Fund, Mahindra Mutual Fund, Aditya Birla Sun Life Mutual Fund etc.
• Intermediaries: AK capital, AUM Capital, Funds India, Morning Star etc.

Being a leading institute of the securities market education in India, we are also connected with leading advocates and some of the top law firms in Mumbai. Some of them are part of our guiding team as mentioned in our prospectus. We take their help for the internships and placements.

Further, SEBI Guidelines mandate its registered intermediaries to have compliance officers. It provides a good opportunity for us to place our students with the intermediaries.

Due to the wide exposure of investment and securities laws related subjects in our LL.M. Course, the students will also have an edge while appearing in the entrance examination for legal position advertised by the various regulators, Banks and financial institutions.

Also, the Students will have the opportunity to sharpen their skills and practice in the specific field of Investment and Securities Laws. They can also start legal advisory services in the specialized fields of investment and securities laws.

Q18. May I visit the campus? If so, when?

A18. Yes, campus visits are welcome from Monday to Friday, 9:30 AM – 5:30 PM. Please email llm@nism.ac.in to schedule your visit. Physical infrastructure of NISM Campus at Patalganga https://www.nism.ac.in/life-campus/

Q19. What subjects are covered in the LL.M. program?

A19. The curriculum includes:

• Trimester I: Legal Research, Comparative Law, Global Justice, and Securities Market Fundamentals
• Trimester II: Advanced Company Law, Securities Regulation, Competition Law and Policy.
• Trimester III: Banking, Foreign Investment, Insolvency Law Includes a dissertation.

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 First Trimester)
• NISM-Series-VI: Depository Operations Certification Examination (to be completed during the First Trimester)
• NISM-Series-V-B: Mutual Fund Foundation Certification Examination (to be completed during the Second Trimester)
• NISM-Series-VIII: Equity Derivatives Certification Examination (to be completed during the Second Trimester)

Q20. Is the program eligible for government/trust scholarships?

A20. No, this is a self-financed program.

Q21. What are the key Dates for Admission?

• Online Application Opens: December 20, 2025
• Last Date for Submission of Online Application: April 03, 2026
• NISM Aptitude Test : April 12, 2026
• Date of Online Personal Interviews (PI): May 11-15, 2026
• Academic Session Begins: July 20, 2026

Contact Details

You may contact the following persons for any specific query

NISM Admission Help Desk: +91-826-800-2412

NISM / MNLU – Academic Queries

For academic-related queries, candidates may contact the following faculty members:

• Dr. Rajesh Kumar
  Program Director (LL.M. Program) & Professor, NISM
  Email: rajesh.kumar@nism.ac.in
  Tele: +91-2192-668412
  Monday to Friday (10:00 Hrs – 17:30 Hrs)
• Mr. Amit Kumar
  Assistant Registrar (Academics) (I/C), MNLU Mumbai
  Email: aracad@mnlumumbai.edu.in
  Tele: +91-97181-06221
  Monday to Saturday (16:00 Hrs – 17:00 Hrs)
• Dr. Shreyas Vyas
  Assistant Professor, NISM
  Email: shreyas.vyas@nism.ac.in
  Tele: +91-2192-668385
  Monday to Friday (10:00 Hrs – 17:30 Hrs)

LL.M (Investment & Securities Laws)

The National Institute of Securities Markets (NISM) is pleased to invite esteemed recruiters to participate in the Campus Placement Drive for the LL.M. (Investment and Securities Laws) Programme, Batch 2025–26.

NISM has a strong legacy of nurturing professionals equipped with in-depth knowledge of financial markets, strong analytical skills, and a sound understanding of the regulatory ecosystem. Our students are well prepared for roles in legal, compliance, regulatory, and capital markets functions across financial institutions, law firms, and corporate legal teams.

We look forward to your valued participation in the forthcoming placement season and to building a meaningful and mutually beneficial industry–academia partnership.

Contact for Placement:

1. Reshma Shaikh, Sr. Manager
Mobile: 8976414697 | Email:reshma.shaikh@nism.ac.in

2. Nikhil Shinde, DGM
Mobile: 8080969596 | Email: nikhil.shinde@nism.ac.in

3. Placement Office
placement@nism.ac.in

Executive Summary

The campus placement drive for the PGPISM program at NISM was conducted at the Patalganga Campus, attracting participation from over 24 companies. Out of a batch of 62 students, 60 chose to take part in the placement process and 62 students received offers across various roles.

The salary package (CTC) comprises of fixed, variable and allowances offered by the company.

Major Recruiters