Gujarat National Law University (GNLU) is thrilled to host the 8th edition of the GNLU Moot on Securities & Investment Law (GMSIL), taking place from October 3 to 6, 2024. Since its inception in 2015, GMSIL has been a pioneering platform, filling a crucial gap in the mooting circuit by offering a specialized forum for research and advocacy in securities and investment law.
This year, 34 teams from esteemed universities across the country have come together to engage in the competition and showcase their legal prowess. The moot problem, focusing on insider trading, fraud, unfair practices in the securities market, and open offers under the Takeover Code, promises challenging and intellectually stimulating rounds.
The GNLU Moot Court Committee (MCC) is leading this grand event with an organizing team of over 100 dedicated members, under the esteemed guidance of our Director, Prof. (Dr.) S. Shanthakumar, and the extremely valuable support of Faculty Convener, Dr. Girish R. This year’s edition is made possible with the generous support of our Event Partners: Trilegal, Finsec Law Advisors, and Regstreet Law Advisors, with BSE Investor Protection Fund as our Stock Exchange Partner, SCC Online as our Knowledge Partner, and SCC Times as our Media Partner.
Participants will compete for prestigious awards, including cash prizes of INR 75,000 for the Winners and INR 35,000 for the Runners-up. In addition, individual accolades will be presented to the Best Orator (Final and Preliminary Rounds), the Best Written Submissions, and the Best Researcher, ensuring that outstanding talent is recognized and rewarded.
We are eagerly looking forward to a remarkable and inspiring event filled with legal ingenuity and fierce competition!
May the best Team win!
Day 1 | 3rd October, 2024 | Inaugural Ceremony & Researcher’s Test
4:30 pm:- The stage is set, and a buzz of anticipation fills the Orientation Hall as we approach the grand opening of the 8th Edition of GMSIL. With just moments to go, the excitement is bubbling as we get ready to welcome our distinguished guests for this evening.
5:55 pm:– With registrations now complete, the 8th GMSIL, 2024 commences with the inaugural ceremony. The event opens with an address by MCC Faculty Convener, Dr. Girish R, who highlights the significance of mooting in shaping the legal minds of tomorrow.
6:10 pm:- Our Director, Prof. (Dr.) S. Shanthakumar warmly welcomes all faculty members, committee members, and participants to this year’s GMSIL. He commends the committee’s dedication and hard work in organizing this prestigious moot court competition. He also proudly congratulates the institution for securing the opportunity to host the upcoming regional rounds for the Manfred Lachs Moot Court Competition.
6:30 pm:- The Researcher’s Test is now underway, guided by our esteemed faculty members.
We’ve reached the final agenda for today! Get ready, because over the next three days, we’ll witness some intense competition, and by the end, one team will emerge victorious.
Day 2 | 4th October, 2024 | Preliminary Round I
10:30 am:- We hope you’re feeling the excitement in the air as we begin this eventful day! The participants have spent their morning rehearsing for their rounds. The hard work, dedication, and practice they’ve put in are all about to unfold as they step into the courtroom. With the judges’ briefing now complete, it’s time for the teams to head towards their respective courtrooms, where months of preparation and anticipation culminate.
Let the Rounds begin!
11:30 am:- With great anticipation, we welcome you to the 1st Preliminary Rounds of this competition. The teams, with their research and preparation, have now taken their places in their respective courtrooms, ready to showcase their arguments. The judges are seated, the timekeepers are ready, and the mood is charged with excitement.
1:30 pm:- As we wrap up the first slot of the preliminary rounds, it’s time for a well-deserved lunch break. The judges, the participants and the organizing committee members are now enjoying a relaxed meal together. Let’s take this opportunity to refuel and get ready for what’s ahead!
2:45 pm:- The next round of prelims is underway, and all courtrooms are now in session. Teams are presenting their legal arguments from both sides, and the judges are actively engaging with the participants. They’re asking challenging questions and diving into discussions on the key legal issues of the dispute.
5:00 pm:- And we’re off to the final stretch of the first preliminary rounds! The participants are giving their all, and every argument counts as they push forward.
7:15 pm:- The first preliminary rounds have concluded. The OC members are escorting the judges and participants for dinner, after which they will guide the teams back to their stay. The second preliminary rounds are scheduled to begin tomorrow.
Day 3 | 5th October, 2024 | Preliminary Round II
9:30 am:- It’s a good day here in Gandhinagar, with pleasant weather. The sun is shining brightly, and passing clouds offer brief moments of relief. The teams have arrived at the venue and are preparing for the second preliminary rounds, which will begin shortly.
10:45 am:- The Organizing Committee is ready to host the second preliminary rounds with their constant enthusiasm. The judges have taken their seats, and the teams are set to begin their arguments. The courtrooms are now in session!
1:30 pm:- After the first slot of 2nd Preliminary rounds, the judges, participants, and Committee members have headed for lunch. Teams are busy discussing their next course of action, while the Organising Committee members prepare for the second slot of 2nd Preliminary Rounds.
3:00 pm:- The second slot of preliminary rounds has begun, and all courtrooms are now in session. Teams are presenting their arguments, and the judges are actively engaging with them.
6:30 pm:- We’ve entered the final stage of the second preliminary rounds! The teams are giving their all and pushing forward to qualify for the Quarterfinals!
9:00 pm:- The preliminary rounds were intense, with great energy and teams delivering flawless arguments. The OC members are now escorting the judges and teams to dinner. The results will be announced after dinner, revealing which teams will advance to the quarterfinals!
10:15 pm:- A round of applause fills the hall as the MCC Faculty Convener, Dr. Girish R, and Faculty member, Dr. Harsha Rajwanshi, step onto the stage to announce the results of the Preliminary Rounds. Out of 34 teams, 8 have made it to the Quarterfinals! The applause grows louder, and the qualified teams are thrilled. With the results now announced, the OC members will soon escort the teams back to their stay.
Tomorrow marks the final day of the competition, and it’s going to be packed with action—Quarters, Semis, and Finals all lined up. So, let’s buckle up and see what tomorrow unfolds for us, especially for the teams!
Day 4 | 6th October, 2024 | Quarters, Semis, Finals & Valedictory Ceremony
8:30 am:- Hello and good morning! Today’s weather is perfect, with clear skies and a cool breeze. It’s an exciting day for both the participants and the Organizing Committee members.
Let us walk you through today’s itinerary: we’ll kick off with the Quarterfinals in the first half of the day, followed by the announcement of the Quarterfinal results. By noon, we’ll move on to the Semifinal rounds, which will be followed by lunch. After lunch, we’ll announce the Semifinal results and head into the Final Round of the competition.
9:00 am:- The teams are having breakfast and waiting for the rounds to begin, while the Organising Committee members are escorting the judges for their Quarterfinals Briefing.
10:10 am:- The Quarterfinals have begun! The teams are delivering crisp arguments and maintaining the time limits. We have the Chief Courtroom Managers along with their team ensuring that the competition runs smoothly.
11:30 am:- The Quarterfinals have concluded, and as we await the results, Organizing Committee members are holding a briefing for the judges in preparation for the upcoming Semifinal Rounds.
12:15 pm:- The results of the Quarters are here! We have our Fantastic Four teams that have qualified for the Semifinal Rounds, which shall begin shortly. The qualified teams are with the codes: 123, 110, 132 and 115.
2:30 pm:- *The Finals are closer than they appear.* The Semifinals have wrapped up and as we await for the results, the judges are heading to the conference room for a briefing on the Finals.
3:30pm:- The Semifinals results are hereby announced! The Fantastic Four teams are:
- Bangalore Institute of Legal Studies {Team Code – 110}
- Symbiosis Law School, Pune {Team Code – 132}
- Campus Law Centre, Faculty of Law, University of Delhi {Team Code – 123}
- Hidayatullah National Law University {Team Code – 115}
A big congratulations to all the teams which have qualified for the Semis!
3:55 pm:- We now welcome you to the much awaited Final Round of the 8th GNLUMSIL, 2024! The teams who made it through the incredible and challenging semis are:-
- Bangalore Institute of Legal Studies {Team Code – 110}
- Symbiosis Law School, Pune {Team Code – 132}
The audience is seated in the Moot Court hall, and our judges are ready for the Finals! Each side will have 40 minutes to present their arguments, which will be divided between the co-counsels and time for rebuttals. Let’s see how the final rounds play out and who emerges as the winner. The Courtroom is now in session!
4:00 pm:- The first counsel for the Appellant addresses the allegations of violations under the PFUTP Regulations while relying upon SEBI judgements to prove that unless call options are triggered, they do not amount to control. In this case, the company had not triggered any such options.
4:10 pm:- The counsel further argues that protective rights in question only relate to the lender’s rights and do not constitute control. She explains that a lender has a vested interest in knowing how funds are utilized for repayment, citing the Arcelor Mittal judgment, which clarified that protective rights available to lenders do not amount to control.
4:20 pm:- The counsel lastly argues that the allegations of violation of Regulation 30 under the LODR stand baseless as the Appellant has been wrongly accused of the same.
4:21 pm:- The second counsel for the Appellant takes over to address further allegations under the PFUTP regulations and violations of Insider Trading Regulations (PIT).
4:38 pm:- The counsel argues that there was no malafide motive on behalf of the Claimant behind the increase of the price of the shares and that the Appellant was not an insider, as per the allegations under the PIT.
4:40 pm:- The counsels for the Respondent, lay down reasons and arguments to showcase how the Appellant has violated the PFUTP, the PIT and the LODR. The counsels also refute and negate arguments made by the Appellant on the basis that intent or motive is not an essential element for civil liabilities.
5:32 pm:- The Appellants and the Respondents have completed their rebuttals. We now await for the results of the Final Rounds!
6:00 pm:- Welcome to the Awards at the 8th GNLUMSIL, 2024. Drumroll please! The Winner team of the competition is Bangalore Institute of Legal Studies! and the Runners Up team is Symbiosis Law School, Pune!
Best Written Submissions goes to:
- Symbiosis Law School, Pune
2nd Best Written Submissions goes to:
- Lloyd Law College
Best Orator in Preliminary Rounds goes to:
- V Navin Balaji Annamalai, Tamil Nadu National Law University
2nd Best Orator in Preliminary Rounds goes to:
- Ustat Kaur Sethi, National University for Advanced Legal Studies, Kochi
Best Orator in Final Rounds goes to:
- Suha, Bangalore Institute of Legal Studies
Best Researchers goes to:
- Anushka Vasishth, Law Centre II, Faculty of Law, University of Delhi
- Tahera Zufashan, Faculty of Law, Jamia Millia Islamia
- Amitansh Kumar, Institute of Law, Nirma University
Special Mention for Exemplary Performance
- Hidayatullah National Law University
With this, the live blogging team of GMSIL 2024 signs off. See you next year!
