Jane Street has taken legal action against the Securities and Exchange Board of India (SEBI) after being accused by the regulator of market manipulation, according to a tribunal filing reviewed by Reuters.
The matter has been placed before the Securities Appellate Tribunal, which is the primary forum for challenging SEBI directives.
In its submission, Jane Street claimed that SEBI has withheld critical documents and data it considers necessary to counter the allegations. The appeal asks the tribunal to compel the regulator to release the information, a person familiar with the filing said.
“These documents are essential and directly related,” the firm argued in its statement to the court.
When contacted, Jane Street declined to respond to questions from Reuters, and SEBI did not immediately issue a statement.
On July 4, SEBI issued an interim order restricting Jane Street from the Indian market over alleged manipulation of benchmark indexes, describing it as one of the strongest actions against an overseas investor. The company was instructed to file a response within 21 days, but that deadline has expired.
