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Al Jazeera
Al Jazeera
Business
Saumya Roy

India’s ban on Jane Street raises concerns over regulator role

Jane Street SEBI India Deven Choksey Al Jazeera Sumit Agarwal
If Jane Street is found to have manipulated the market, its earnings would have come through losses for retail investors [File: Francis Mascarenhas/Reuters]

Indian tax authorities and market regulator are considering widening their probe of United States trading giant Jane Street Group to investigate it for tax evasion in addition to an earlier charge of price rigging in the Bombay Stock Exchange’s benchmark Sensex, according to media reports.

The tax evasion charge comes on the heels of market regulator, the Securities and Exchange Board of India (SEBI), seizing 48.43 billion rupees ($570m) and banning four Jane Street-related entities from operating in the market for alleged price manipulation in the National Stock Exchange (NSE).

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