An Indian court has ordered the Securities and Exchange Board of India (SEBI) to respond to Jane Street’s appeal within three weeks, effectively delaying any action on the high-frequency trading firm’s case. The court also postponed the hearing of the appeal until November 18, 2025, pushing back SEBI’s decision to potentially lift or uphold the temporary ban on Jane Street’s operations in India.
The firm, which was banned in July 2025 over alleged market manipulation, has contested the charges. It is seeking access to internal SEBI documents and communications with the National Stock Exchange of India to support its defense. Jane Street maintains that it was not involved in any wrongdoing and is requesting these materials to ensure a fair review of the case.
SEBI, however, has emphasized that the investigation is still ongoing and has yet to release any documents that were not part of its original decision-making process. The case remains under legal scrutiny as both sides prepare for further proceedings later this year.
