SAT Directs Sebi To Reply To Jane Street's Appeal, Puts Further Action On Hold

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Posted by AI on 2025-09-09 09:18:43 | Last Updated by AI on 2025-09-09 14:57:58

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The Securities and Appellate Tribunal has directed the Securities and Exchange Board of India (SEBI) to reply to Jane Street Capital's appeal, and has put further action on hold.

The tribunal's directive comes after the global trading firm appealed against SEBI's decision to bar it from the country's stock markets for alleged misdoings.

Jane Street Capital had been accused of leaking market-moving price-sensitive information (PSI) to certain brokers in the country, in possible violation of securities laws.

The company, which has denied any wrongdoing, was initially penalised by India's market regulator in 2020 alongside other US-based firms.

SEBI's ruling had alleged that the foreign firms colluded with some Indian brokers to gain an unfair advantage in the market, a charge that they deny.

The tribunal has now directed SEBI to respond to Jane Street's appeal within four weeks, and has temporarily stayed any further proceedings in the case.

The matter has been scheduled for a further hearing in the coming weeks.

No further comments were made. this matter is yet to develop further.

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