Jane Street Tells India Tribunal SEBI's Own Reports Found No Manipulation Before $567M Order

India's Securities Appellate Tribunal heard Jane Street's challenge to SEBI's ₹4,843.57 crore (~$567 million) penalty for alleged market manipulation. The firm argued that both NSE and SEBI's own surveillance department found no violations in late 2024, and that the case was reopened after a complaint from a UAE-based hedge fund manager.

• SEBI fined Jane Street ₹4,843.57 crore (~$567 million) in July 2025
• NSE and SEBI's surveillance arm had earlier found no manipulation
• SEBI says early reviews covered only part of the trading sessions
• Jane Street's four entities earned ~$5.07 billion in India from Jan 2023 to Mar 2025