Jane street vs sebi: Appeals of three judges will start hearing today in the ongoing case between trading firm Jane Street Group and India’s market regulator SEBI. The market’s eyes are on this because its most equity derivatives in the world may deepen on the market. The Securities Appellate Tribunal (SAT) will be considered under the leadership of Justice PS Dinesh Kumar whether Jane Street’s appeal should be accepted against the interim order issued by SEBI in July. In this interim order, the US trading company has been accused of rigging and action has been taken against which Jane Street appealed last week. Jane Street says that Sebi refused to access the important documents for rescue and Jane Street has demanded a stay on SEBI action until the hearing was completed.
What can happen today?
According to the report of the news agency Bloomberg, it is expected that if the court asks for more time to decide that SEBI is not shared with some documents Jane Street and not shutting off its rescue path, then Jane Street may request SEBI to ask SEBI to stop the investigation. A roadmap is usually fixed in the first hearing, in which the court calls SEBI later to respond to the allegations.
According to Abhiraj Arora, partner of Mumbai’s law firm Saraf & Partners, both the main focus of both Jane Street and SEBI is on the question of interim restriction. He believes that the tribunal may get interim relief and SEBI may get instructions to respond to Jane Street’s appeal.
Jane Street demanded an access of some documents, including email between SEBI and Dubai’s hedge fund manager Mayank Bansal. Jane Street has sought an access to SEBI’s mail with Mayank Bansal because it is believed that this was believed that SEBI’s American firm had given information about trade in India. The email between Jane Street and NSE has also sought access. According to the news agency Bloomberg, Jane Street has alleged that he did not get his access to the investigation as an unknown.
In its appeal, the company also said that SEBI’s surveillance department has already reviewed its trading activity and in December it had not found any evidence of any kind of rigging. NSE also considered the same a month ago. Akshaya Bhansali, managing partner of Mindspright Legal, says that SEBI may say that the internal communications that have taken place is different from his decision to start a second investigation early this year. According to Akshaya, SEBI can also say that the interim order had no connection with the NSE report.
Why is the market eye on the matter?
The market is eyeing the case going on in the court between Jane Street and SEBI because other companies like Jump Trading, Citadel Securities, and IMC Trading can be affected. This is also important because India’s derivative market has become quite attractive for high-speed trading firms around the world. According to a SEBI report earlier this year, retail traders lost about $ $ 1200 in FY 2025 in FY 2025 and benefited mainly to trading firms.