Jane Street denies manipulation charges in India appeal case
Jane Street Group LLC is currently appealing against the Securities and Exchange Board of India’s allegations of market manipulation. The company has previously been cleared of wrongdoing by regulatory reviews, which raises questions about the ongoing investigation. Jane Street is seeking further information about the origins and conduct of the SEC investigation into its trading activities.
Jane Street Group LLC is contesting charges of market manipulation in a high-stakes appeal case against India’s securities regulator. The Wall Street firm denied allegations that its trading activity influenced prices in the NSE Nifty Bank Index, a key gauge for heavily traded options contracts. Jane Street argued that stocks in the index moved independently of its actions.
The company, represented by lawyer Darius Khambata, requested SEBI disclose redacted counterparty information from trade logs central to the investigation. SEBI had maintained its probe even after the National Stock Exchange and the regulator’s surveillance team cleared Jane Street of wrongdoing. The dispute highlights SEBI’s enforcement powers following its July 2025 order seizing $503 million in alleged ill-gotten gains from Jane Street. The next hearing in the Securities Appellate Tribunal is set for October 6.
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