Jane Street complies with Sebi order, deposits Rs 4,843.5 crore in escrow account
Following this the company has also made a request to lift certain conditional restrictions the regulator had slapped on it through the interim order.
Jane Street's request for removal of certain conditional restrictions is under consideration, Sebi said in a statement which acknowledged the payment of Rs 4,843.5 crore by the company.
The Sebi had directed impounding of Rs 4843.5 crore—the amount Sebi believes is illicitly made by the company--in an interim order on July 3 and restrained the Jane Street and its associates from trading in domestic markets.
Sebi had found that Jane Street made a killing by manipulating Bank Nifty on expiry days. Between January 2023 and March 2025, just by gaming the market on 21 trading days it made a whopping Rs 36,503 crore of net profit by pumping up Bank Nifty component stocks in the morning and to ramp up volume and then dumping them at lower prices in the afternoon trades.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
12 minutes ago
- Indian Express
Top designers, DU students to join Delhi govt's upcoming khadi fashion show
The Delhi government's first-of-its-kind handloom fashion show is set to be attended by renowned designers and students from the Capital's top educational institutions. The show, scheduled for August 6, will be attended by bigwigs like Rahul Mishra, Sanjay Garg, Surekha Jain, Rina Dhaka, and Pernia Quereshi, among others. The event will also see over 150 students from top Delhi colleges like Miranda House, Lady Shri Ram College, Hindu College, GTB Khalsa College, Guru Gobind Singh College, and Pearl Academy curating exhibits and walking the ramp in handloom wear. Organised to promote the use of khadi, as well as hand-spun and handwoven fabrics, the event will highlight the roots of traditional Indian textiles. Industries Minister Manjinder Singh Sirsa said the event, named 'Vastra Katha', will be organised by the Delhi Khadi and Village Industries Board (DKVIB). 'We are bringing in long-overdue reforms to make (DKVIB) sustainable by the end of this year and profitable by 2026. The government has already allocated Rs 50 crore for skilling and capacity-building in the handloom sector, and now we are complementing that with platforms like Vastra Katha to create means for livelihood and visibility for artisans,' said Sirsa. The event will feature a 24-stall curated exhibition and a fashion ramp walk with a Vedic civilisation theme. The exhibition will showcase rare, Geographical Indication (GI) tagged textiles, handloom sarees, and fabrics from across India. On how eco-friendly the handloom industry is, Sirsa said, 'The fashion industry is a major contributor to global warming. On the other hand, handloom is eco-friendly, rooted in nature, made without natural products, and also supports rural livelihoods, especially for women. Handloom isn't just heritage, it's climate action with culture.' The Delhi government plans to make the event an annual tradition, he added.
Time of India
14 minutes ago
- Time of India
Andhra Pradesh high court dismisses anticipatory bail plea of Midhun Reddy in liquor scam case
Vijayawada: The high court on Tuesday dismissed the anticipatory bail petition filed by Rajampet YSRCP MP, P Midhun Reddy, in the alleged liquor scam case. The court observed that the investigating officer deserves a free hand to take the investigation to its logical conclusion in a case containing severe allegations, and the grant of anticipatory bail could hinder the ongoing investigation. Tired of too many ads? go ad free now The HC further noted that the evidence produced by the prosecution prima facie reveals the role of Midhun Reddy in the alleged offence, and custodial interrogation is deemed essential to confront him with the gathered evidence and to unravel a broader conspiracy. The court also said that the power of granting anticipatory bail under section 438 of CrPC needs to be exercised sparingly in extraordinary circumstances. Considering the gravity of the offence, particularly taking note of the accusation that Rs 3,500 crore was said to be collected towards kickbacks for the liquor syndicate, no such extraordinary circumstances were seen in the present case for granting the relief of anticipatory bail, said the high court while dismissing the petition. Midhun Reddy, named A-4 in the alleged liquor scam, has been accused of conspiring to change the order placing system. The prosecution alleged that he influenced officials in bringing changes to the excise policy and was the mastermind behind placing orders to favoured companies. He is also accused of receiving kickbacks from the companies which were favoured by way of getting additional orders for liquor. The prosecution presented witness statements indicating the role of the MP and the money trail between some of the companies involved in the scam and the company owned by Midhun Reddy's family members. The MP said that he was implicated in the case because of political vendetta. He argued that he was not part of the state govt and had no role in policy decisions.
Time of India
15 minutes ago
- Time of India
Andhra man arrested for duping many in fake stock mkt schemes
Jaipur: In a major crackdown on cybercrime, the city police's Cyber Police Station Tuesday arrested a fraudster from Andhra Pradesh who duped people of Rs 3.35 crore by luring them into fake online stock market investment schemes. The accused was nabbed after a months-long technical operation spanning across Haryana, Delhi, Telangana, and Andhra Pradesh. Deputy commissioner of police (Crime) Kundan Kanwaria said the accused has been identified as Palli Venkat Ramanjaneyulu. "Acting on a complaint filed on Nov 17, 2024 at the Cyber Police Station, the team launched a detailed investigation. The complainant alleged that he was cheated through multiple transactions under the guise of investing in a fraudulent online stock trading platform," Kanwaria said. Two other accused were already arrested earlier in connection with the case. Further technical analysis of the bank accounts revealed that Rs 1.42 crore was transferred to Ramanjaneyulu's account. Cyber investigators then examined his mobile usage patterns and digital trail. He was on the run, frequently changing locations and mobile devices to evade capture. After three months of sustained tracking, the accused was finally traced to Krishna district in Andhra Pradesh and apprehended on 11 July 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo He was brought to Jaipur on a transit warrant and produced in court, which remanded him to police custody. He is now in judicial custody. The accused operated a fake WhatsApp profile to contact victims, shared links to fraudulent stock trading websites, and persuaded them to invest. In the initial phase, small profits—actually diverted from the deposits of other victims—were paid to build trust. Once larger amounts were invested, he offered excuses for not returning the money and eventually cut off contact. The cyber team has collected extensive digital evidence, examined bank transactions, and continues to analyse data linked to related accounts. Investigations are ongoing to identify more victims and potential accomplices.
