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SAT reserves order date for Jane Street appeal in SEBI case
SEBI’s July 2025 ex-parte interim order barred Jane Street from the Indian securities market and required disgorgement of ₹4,843 crore tied to alleged gains.
The Securities Appellate Tribunal, or SAT, has reserved its decision until 21 October in an appeal filed by US market maker Jane Street in its ongoing dispute with India’s Securities and Exchange Board of India, LiveMint Markets reported.
The case traces back to a July 2025 ex-parte interim order from SEBI that barred Jane Street from the Indian securities market and directed the firm to disgorge ₹4,843 crore in alleged unlawful gains.
SEBI accused Jane Street of manipulating the Bank Nifty index by using trades in cash and futures markets to artificially support the index while building large short positions in index options, according to the outlet.
Jane Street argued that SEBI withheld key evidence, including documents and data it says is necessary to assess the regulator’s case, with the appeal heard by an SAT bench that included presiding officer Justice (Retd.) P. S. Dinesh Kumar and technical members Dr. Dheeraj Bhatnagar and Meera Swarup.