SAT tells SEBI to explain Jane Street case documents denial
India's Securities Appellate Tribunal (SAT) just told the market regulator SEBI to clarify—within three weeks—why it refused to share certain documents with US trading firm Jane Street.
SAT also paused all personal hearings until November 18, which means SEBI can't make any final decisions for now.
This is all happening after Jane Street was accused of using a two-phase strategy to manipulate the Nifty Bank index and reportedly made ₹4,840 crore across multiple expiry-day trades.
Why this matters
This legal standoff is really about transparency and fairness in India's fast-growing financial markets—especially as more global trading firms get involved.
If SAT pushes for more openness from SEBI, it could set new standards for how big market investigations are handled.