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In video it was mentioned that NLS back in the 90s had legal luminaries, such as, Indra Jaising, Ram Jethmalani as faculties. Prior to NLS, DU CLC had the same. Even GLC was fortunate enough to witness this. Probably, Calcutta University too?

Are those days gone? I understand that it is difficult for Senior Advocates to travel all the way to Bangalore or Hyderabad to teach. However, the same shouldn't be true for Delhi or Bombay; plenty of good law schools in vicinity - DU CLC, NLUD, USLLS, JMI. In fact, GLC is located at the best possible place, but still suffers.

Please, don't make it another D measuring contest. I, genuinely, want to know why the sudden - perhaps, eventual? - change?

Are practicing Senior Advocates not anymore interested in teaching? Is it because of corporate rush and unwillingness to get into Litigation?
Frankly, the location is not really that big a challenge anymore, with technological growth and the possibility of virtual classes.
Virtual classes are just meh. It can never replace in-person classroom-interaction.
If students and teachers are both interested in making the classes count, then virtual classes can add a lot of value. If either party becomes lazy, then those won't. As simple as that. I will rather have a virtual session from a top practitioner than an in-person class from someone who doesn't measure up to the expected standards.
Why would you need a Jethmalani to teach in Raipur and a Dushyant Dave to teach in Patiala ? Each and every State have their own doyens of the High Court Bar and even the District and Tribunal bars. They are good enough. The idea is to get practising counsel into guest lecturer roles as opposed to the permanent lecturers who have not practised for decades if at all.
Correction: '(...) as opposed to the permanent lectures who cannot practice under BCI Regulations'. The rest of the world does not have such a moronic distinction between academia and practice; it is indeed even encouraged and people do take full advantage of it. It betters careers for academics, while also making the classes much more practical for students.