UP's Chhangur Baba funded more than 1,000 Muslim men to trap Hindu girls: Sources
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Time of India
24 minutes ago
- Time of India
Jane Street seeks Sebi nod to remove trading ban after depositing Rs 4,843 crore
Jane Street, an American quant trading firm, deposited approximately Rs 4,843.58 crore into an escrow account. Following this deposit, the firm has formally requested the Securities and Exchange Board of India (SEBI) to lift the ban imposed on its trading activities in Indian securities. SEBI acknowledged the deposit and confirmed Jane Street's request to remove certain restrictions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads After depositing about Rs 4,843.58 crore in an escrow account, American quant trading firm Jane Street has requested the markets regulator Sebi to remove the ban on trading in Indian securities Sebi said in compliance with its interim order in the market manipulation case, Jane Street has credited the amount to an escrow account with a lien marked in favour of the regulator."Jane Street has further requested SEBI that, following the creation of this escrow account in compliance with SEBI directions, certain conditional restrictions imposed under the interim order be lifted and that SEBI issue appropriate directions in this regard," Sebi said in a More: BSE, NSE investors foot Rs 1.4 lakh crore bill for Jane Street scandal, F&O mess clean-up The regulator said it is currently examining the request in accordance with the directions of the interim order."SEBI remains committed to following due process and ensuring the integrity of the securities market," it in the month, Sebi had accused Jane Street of running 'an intentional, well-planned and sinister scheme' of manipulating the derivatives market in India. The firm was found to have made a profit of about Rs 36,500 crore through systematic "market manipulation".The firm allegedly engaged in aggressive buying of Nifty Bank component stocks and futures during morning hours, artificially inflating prices. They would then reverse these positions later in the day through aggressive selling, causing prices to fall. This coordinated buying and selling was designed to manipulate the index at strategic times to benefit their massive options found that Jane Street was "consistently running what appeared to be by far the largest risks in 'cash equivalent' terms in F&O particularly on index option expiry days." The regulator noted that "what sets apart the trading pattern of the JS Group as prima facie being manipulative, is the intensity and sheer scale of their intervention in the underlying component stock and futures markets."SEBI's investigation uncovered staggering numbers that highlight the scale of Jane Street's operations in Indian markets. During the examination period, Jane Street made total profits of Rs 36,502.12 crore across all pattern suggests that Jane Street was using the cash equities, stock futures, and index futures segments primarily to manipulate prices, accepting losses in these segments to generate much larger profits in the options scandal has rocked Indian markets, with various capital market infrastructure stocks, including BSE and the unlisted NSE, being impacted. Derivative volumes have also seen a sharp decline of around 20% since the Sebi the weekly options expiry day of Thursday, the most active trading day, turnover was down over 21% to about Rs 472.5 lakh crore from Rs 601.2 lakh crore a week ago.
India Today
36 minutes ago
- India Today
Mukhtar Ansari gang hitman killed in UP Police encounter; guns, cartridges seized
A sharpshooter linked to the gangs of slain gangster-turned-politician Mukhtar Ansari and gangster Sanjeev Jeeva was killed in an encounter with the Uttar Pradesh Special Task Force (STF) in Muzaffarnagar on Sunday, officials criminal, identified as Shahrukh Pathan, was wanted in multiple murder and extortion cases and had been absconding for years despite having been jailed said Shahrukh Pathan, son of Jarif and a resident of Khalapar in Muzaffarnagar, was a trusted sharpshooter of the Sanjeev Jeeva He first came under the police radar in 2015 when he shot dead one Asif Jayda at Muzaffarnagar railway station while in police custody. After his arrest, he came in contact with jailed don Mukhtar Ansari and Jeeva and started working for Jeeva's 2016, Pathan escaped from police custody in Muzaffarnagar. A year later, he murdered a Haridwar-based blanket trader named Goldie on Jeeva's same year, he allegedly killed the father of Asif Jayda, the witness in the earlier murder case, at Muzaffarnagar Kotwali police station, leading to a bounty of Rs 50,000 on his head. He was later arrested and convicted along with Sanjeev Jeeva in the Goldie murder case and sentenced to life on bail about six months ago, Pathan allegedly resumed threatening and attempting to eliminate witnesses in the pending murder trials. A fresh case for attempt to murder and intimidation was registered against him in Sambhal district, where he had been absconding July 14, the STF field unit from Meerut traced him to the Chapar police station area in Muzaffarnagar. During the encounter, Pathan was critically injured and arrested but was declared dead at the recovered a .30 bore Beretta pistol, a .32 bore revolver, a country-made 9 mm pistol, a white Brezza car with no number plate, seven live 9 mm cartridges, ten live .32 bore cartridges, forty-six live .30 bore cartridges and six empty .32 bore shells from criminal record included more than a dozen cases under serious charges like murder, extortion, gangster act, arms act, and attempt to murder, registered across Muzaffarnagar, Haridwar and Sambhal police said that Pathan's elimination was a big blow to the network of gangsters still active in western Uttar Pradesh.- Ends(With inputs from Sandeep Saini.)Must Watch
Time of India
38 minutes ago
- Time of India
PM-eBus Sewa: Karnataka minister urges Centre to give subsidies to states
The central govt should provide direct subsidies to state govts to procure electric buses under the PM e-Bus Sewa scheme, instead of allocating them to private operators under the PPP model, said Karnataka transport minister Ramalinga Reddy. He was speaking after inaugurating the new automated driving test track at Kamblapadavu in Pajir village, Ullal taluk, on Sunday. The procurement and operation of electric buses was easy during the UPA regime. While the central govt was providing 50 per cent of the fund, the state and its transport corporations had to invest 25 per cent each to operate buses. Now, under the NDA regime, buses are not given directly to states but instead procured through tenders, and the subsidy goes to the participating bidders. They will own the buses, hire drivers, and also maintain the vehicles while the state corporations have to appoint conductors and pay the operators on a kilometre basis. The minister suggested that the central govt should directly pay the subsidy to the state transport corporations across the nation. He added that a discussion in this regard was held with Union minister HK Kumaraswamy too. On 100 electric buses sanctioned to Mangaluru under the PM-eBus Sewa Scheme, the minister said the depot and terminal will be developed soon after land was identified. On the new automated driving test track, Reddy said Karnataka will have the highest number of automated driving test stations in the country. "In fact, chief minister Siddaramaiah was scheduled to inaugurate the facility, which was developed at a cost of Rs 7.5 crore. However, due to technical reasons, the programme was postponed. Govt has been providing automated driving test tracks at 42 centres covering all districts in the state," he said. Karnataka assembly speaker UT Khader presided while Dakshina Kannada MP Capt Brijesh Chowta, among others, were guests. Automated test to begin in 10 days RTO Sridhar K Mallad said the new automated driving test station set up as per the guidelines of the central govt will replace the manual inspections. "Further, it will increase efficiency while preventing corruption and interference of middlemen. There are separate automated driving test tracks for two-wheelers, light motor vehicles, and heavy vehicles," he said. "The manual facility at Vamanjoor will be shifted to the new facility at Kamblapadavu within a few days. The new automated driving test track will be made operational within 10 days after the services are linked to the NIC. Once the linking process is completed, applicants can book slots for tests online," he said.
