Summary
- Jane Street has challenged the Securities and Exchange Board of India (Sebi) at the Securities Appellate Tribunal, claiming the regulator altered its allegations in an ongoing probe into alleged manipulative trading.
- Counsel Darius Khambata emphasized that Jane Street seeks a swift resolution, having already deposited the required funds without a hearing and halted its trading activities in India.
- Khambata criticized Sebi for its focus on the scale of trading, asserting that large transactions do not equate to manipulation and questioning the lack of transparency regarding complainant identities.
- The case raises significant constitutional questions about fair hearings, as Khambata argued that Sebi's order has serious civil consequences for Jane Street's operations.
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