Business Standard (Samie Modak & Khushboo Tiwari) reports that Jane Street Group representatives are scheduled to appear before SEBI in early September for their first in-person hearing since the interim trading ban imposed on 03 July 2025.
SEBI had barred the high-frequency trading (HFT) firm from trading for alleged market manipulation in the Bank Nifty index, seeking impounding of ~โน4,843 crore. The ban was subsequently lifted on 18 July after Jane Street deposited the identified gains in escrow.
In this context, Mr. Sumit Agrawal, Founder & Partner at Regstreet Law Advisors & former SEBI Officer, explained:
โ๐๐ฏ ๐ฑ๐ณ๐ฐ๐ค๐ฆ๐ฆ๐ฅ๐ช๐ฏ๐จ๐ด ๐ฃ๐ฆ๐ง๐ฐ๐ณ๐ฆ ๐๐๐๐, ๐ฆ๐ด๐ฑ๐ฆ๐ค๐ช๐ข๐ญ๐ญ๐บ ๐ช๐ฏ ๐ค๐ฐ๐ฎ๐ฑ๐ญ๐ฆ๐น ๐ค๐ข๐ด๐ฆ๐ด ๐ช๐ฏ๐ท๐ฐ๐ญ๐ท๐ช๐ฏ๐จ ๐ช๐ฏ๐ต๐ฆ๐ณ๐ช๐ฎ ๐ฅ๐ช๐ณ๐ฆ๐ค๐ต๐ช๐ฐ๐ฏ๐ด ๐ข๐ฏ๐ฅ ๐ญ๐ข๐ณ๐จ๐ฆ-๐ด๐ค๐ข๐ญ๐ฆ ๐ต๐ณ๐ข๐ฅ๐ช๐ฏ๐จ ๐ข๐ญ๐ญ๐ฆ๐จ๐ข๐ต๐ช๐ฐ๐ฏ๐ด, ๐ฑ๐ฆ๐ณ๐ด๐ฐ๐ฏ๐ข๐ญ ๐ฉ๐ฆ๐ข๐ณ๐ช๐ฏ๐จ๐ด ๐ง๐ฐ๐ณ๐ฎ ๐ข ๐ค๐ณ๐ช๐ต๐ช๐ค๐ข๐ญ ๐ฑ๐ข๐ณ๐ต ๐ฐ๐ง ๐ฅ๐ถ๐ฆ ๐ฑ๐ณ๐ฐ๐ค๐ฆ๐ด๐ด. ๐๐ฉ๐ฆ ๐ฏ๐ฐ๐ต๐ช๐ค๐ฆ, ๐ช๐ฏ ๐ต๐ฉ๐ช๐ด ๐ค๐ข๐ด๐ฆ ๐๐ข๐ฏ๐ฆ ๐๐ต๐ณ๐ฆ๐ฆ๐ต, ๐ช๐ด ๐ฆ๐ฏ๐ต๐ช๐ต๐ญ๐ฆ๐ฅ ๐ต๐ฐ ๐ฎ๐ข๐ฌ๐ฆ ๐ฐ๐ณ๐ข๐ญ ๐ด๐ถ๐ฃ๐ฎ๐ช๐ด๐ด๐ช๐ฐ๐ฏ๐ด ๐ข๐ฏ๐ฅ ๐ค๐ญ๐ข๐ณ๐ช๐ง๐บ ๐ช๐ต๐ด ๐ฑ๐ฐ๐ด๐ช๐ต๐ช๐ฐ๐ฏ ๐ฃ๐ฆ๐บ๐ฐ๐ฏ๐ฅ ๐ธ๐ณ๐ช๐ต๐ต๐ฆ๐ฏ ๐ณ๐ฆ๐ด๐ฑ๐ฐ๐ฏ๐ด๐ฆ๐ด. ๐๐ฉ๐ฆ ๐ฉ๐ฆ๐ข๐ณ๐ช๐ฏ๐จ ๐ช๐ด ๐ฏ๐ฐ๐ต ๐ข๐ฅ๐ท๐ฆ๐ณ๐ด๐ข๐ณ๐ช๐ข๐ญ ๐ฃ๐ถ๐ต ๐ช๐ฏ๐ฒ๐ถ๐ช๐ด๐ช๐ต๐ฐ๐ณ๐ช๐ข๐ญโ๐ช๐ต ๐ข๐ญ๐ญ๐ฐ๐ธ๐ด ๐๐๐๐ ๐ต๐ฐ ๐ฆ๐น๐ข๐ฎ๐ช๐ฏ๐ฆ ๐ต๐ฉ๐ฆ ๐ค๐ฐ๐ฏ๐ต๐ฆ๐น๐ต, ๐ด๐ต๐ณ๐ข๐ต๐ฆ๐จ๐บ, ๐ข๐ฏ๐ฅ ๐ช๐ฏ๐ต๐ฆ๐ฏ๐ต ๐ฃ๐ฆ๐ฉ๐ช๐ฏ๐ฅ ๐ต๐ณ๐ข๐ฅ๐ฆ๐ด, ๐ฑ๐ข๐ณ๐ต๐ช๐ค๐ถ๐ญ๐ข๐ณ๐ญ๐บ ๐ธ๐ฉ๐ฆ๐ฏ ๐ข๐ญ๐จ๐ฐ๐ณ๐ช๐ต๐ฉ๐ฎ ๐ข๐ฏ๐ฅ ๐ฆ๐น๐ฑ๐ช๐ณ๐บ-๐ฅ๐ข๐บ ๐ต๐ณ๐ข๐ฅ๐ช๐ฏ๐จ ๐ข๐ณ๐ฆ ๐ช๐ฏ๐ท๐ฐ๐ญ๐ท๐ฆ๐ฅโ
Read the full Business Standard article here: https://lnkd.in/gdmWkfqr
In such matters, the Noticeeโs grievance often relates to the lack of complete inspection of documents and the absence of sufficient clarity in the Show Cause Notice, particularly regarding certain allegations and supporting evidence. Accordingly, it would not be surprising if Jane Street were to file an appeal before the Securities Appellate Tribunal, seeking procedural fairness on similar grounds.
For further information or queries, please reach out to us at info@regstreetlaw.com
