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Jane Street takes Sebi fine fight to tribunal
Global trading firm Jane Street is fighting back after India's market regulator, Sebi, hit it with a massive ₹4,800 crore fine and banned it from trading for alleged options market manipulation.
Jane Street says Sebi didn't share key evidence before making its decision, so they've taken the case to the Securities Appellate Tribunal (SAT).
What's at stake for Jane Street and Sebi
The SAT will now look into whether Sebi followed the right process.
The verdict could affect how Jane Street—and even other global firms—operate in India, and might shape how tough Sebi gets in future cases.
For now, Jane Street has paid up but isn't trading in India while everything plays out.
This case is getting a lot of attention since it could set new ground rules for India's financial markets.