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SEBI Pandey denies comment on Jane Street matter as "investigation going on"
This story was originally published at 22:37 IST on 12 September 2025
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--SEBI on Jane Street: Cannot comment about matter under investigation
--CONTEXT: SEBI Chairpeson Tuhin Kanta Pandey's comments in press conference
MUMBAI – Securities and Exchange Board of India Chairman Tuhin Kanta Pandey declined to comment about the alleged market manipulation against US-based proprietary trading firm Jane Street. "My thoughts cannot actually go out in a press conference...there is an investigation going on," the chairperson said while responding to media queries about the matter. "Everyone has a right for redressal as much as regulator also has a right to reply and response."
On Tuesday, the Securities Appellate Tribunal directed the regulator to give a response within three weeks as to why it has withheld certain documents regarding its investigation against Jane Street's market manipulation. The tribunal will hear the matter again on Nov. 18.
The US trading firm had approached the tribunal, alleging that the Indian regulator did not provide all information about its own surveillance department's investigation in December 2024 and also did not share some of the documents related to the National Stock Exchange's probe in November 2024. In July, the regulator had banned four Jane Street group entities from participating in India's securities market due to index manipulation allegations. It had said that these entities infused large amount of funds in the constituents of Nifty 50 and Nifty Bank to manipulate options contracts prices in favour of them. End
Reported by Anjana Therese Antony
Edited by Deepshikha Bhardwaj
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