Overview

• A three-member Securities Appellate Tribunal bench led by Justice P. S. Dinesh Kumar gave SEBI three weeks to explain why additional documents sought by Jane Street cannot be disclosed.
• The tribunal scheduled the next hearing for November 18 and directed that any personal hearings with the firm be paused until then.
• SEBI told the court its probe is ongoing and said it will not release materials that were not relied upon when issuing the July interim order.
• Jane Street’s appeal seeks access to emails with whistleblower Mayank Bansal and correspondence with the NSE, noting earlier SEBI and NSE reviews that reported no evidence of manipulation.
• Jane Street previously deposited about Rs 4,843.5 crore into escrow to restore market access, as the case’s outcome is watched for its potential impact on global quantitative traders in India’s derivatives market.