Mumbai, US trading firm Jane Street on Wednesday moved the Securities Appellate Tribunal against capital markets regulator Sebi‘s order to impose restrictions on the hedge fund for market manipulations.
In the appeal, seen by PTI, Jane Street alleges that sufficient information and access to documents imperative for putting up a defence have been denied by the regulator and claims that a recent inspection by a Sebi department had concluded that there was no manipulation.
The Securities and Exchange Board of India, on July 3, passed an ex parte interim order barring four entities of the hedge fund from accessing the capital markets and imposed a penalty of Rs 4,843 crore.
In the appeal, Jane Street has sought to quash the Sebi orders, access to relevant documents and, as an interim relief, requested the tribunal to instruct Sebi not to take any further actions.
Jane Street said it has complied with all the directions in the ex parte interim order and deposited the purportedly impounded amount, after which Sebi itself lifted the restraint on it.
There was no reply from Jane Street to an email query about the appeal.
According to reports, SAT is likely to hear the appeal on September 8, but the cause list for the day was not updated on the tribunal’s official website. PTI
