U.S.-based trading firm Jane Street has filed an appeal with India’s Securities Appellate Tribunal (SAT) challenging the Securities and Exchange Board of India (SEBI) over allegations of market manipulation. The firm contends that SEBI has withheld critical documents necessary for its defense.
In July, SEBI temporarily banned Jane Street from trading in Indian markets, accusing the firm of manipulating the Bank Nifty index through coordinated trades in cash, futures, and options. SEBI claimed Jane Street executed a strategy known as “Extended Marking the Close,” profiting from price movements it allegedly caused.
Jane Street disputes these allegations, describing its activities as routine index arbitrage. The firm asserts that internal reviews by SEBI and the National Stock Exchange had previously found no evidence of manipulation. It claims that SEBI’s decision to proceed with charges ignored these findings and involved withholding key documents, including internal reports and communications that could exonerate the firm. 
The appeal seeks to compel SEBI to release these materials and to halt any further regulatory actions until the matter is resolved. The SAT is expected to hear the case in the coming days.
This Article is published by Epic Click Travel & Tourism.
Epic Click Travel & Tourism is a professional travel agency based in Dubai.
Epic Click Travel & Tourism will handle everything for you from flights to hotels, including fast-track airport check-in, private car transfers, and visas.
To learn more about Epic Click Travel & Tourism, visit https://epicclicktravel.com.
You can also contact the company directly by email info@epicclicktravel.com and WhatsApp +971 52 427 5718
