Jane street vs sebi: The Securities Appellate Tribunal (SAT) has instructed the market regulator SEBI to clarify within three weeks why he did not provide all the documents sought to Jane Street. The next hearing of the case will now be held on 18 November 2025. Jane Street is an American Elgo trading firm.
This has challenged SEBI’s 3 July 2025 interim order in which it banned trading in the Indian stock market of Jane Street. Jane Street argued that many of the documents on which the regulator took action was not provided to them.
SEBI alleges that Jane Street is avoiding exposing its trading strategy and instead the regulator seeking internal administrative circular, which has nothing to do with the case directly.
Jane Street’s argument
On the other hand, Jane Street says that if SEBI can share NSE reports with him, which is not even his own documents, then why can’t he share his documents, on the basis of which he has taken action. Jane Street had asked for about 61 documents from SEBI.
SEBI said in response that it has provided only the documents that are related to the case and is still in the process of passing the final order.
Tribunal order
SAT, after hearing the arguments of both sides, instructed SEBI to file his reply within three weeks. After this, Jane Street will get a chance to file a reply in another week.
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