A normal view of the SEBI (Securities and Change Board of India) constructing is seen within the enterprise district of Mumbai, India, on July 1, 2025.
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The Securities Change Board of India (SEBI) has barred Jane Avenue Group from accessing India’s securities market, in response to an order posted on the regulator’s web site on Friday.
The order said that the U.S. buying and selling agency’s “entities are restrained from accessing the securities market and are additional prohibited from shopping for, promoting or in any other case dealing in securities, straight or not directly.”
The regulator additionally issued an interim order to impound over 48.4 billion Indian rupees ($566.3 million) from Jane Avenue in alleged unlawful good points.
It additional said that banks have been directed to make sure that “no debits are made, with out permission of SEBI,” for accounts held by Jane Avenue’s entities both collectively or individually.
The agency allegedly used varied methods to artificially affect India’s benchmark Nifty 50 index, which tracks the nation’s high 50 corporations, to revenue from considerably bigger positions in index choices.
SEBI mentioned that repeated cases of manipulative buying and selling continued even after an “express advisory” was issued to the agency in February 2025.
The Indian regulator had beforehand expressed issues over practices akin to algorithmic buying and selling, which SEBI mentioned in a September 2024 report allowed proprietary merchants and international portfolio traders to make 610 billion Indian rupees in income in FY 2024, whereas retail traders and different market individuals misplaced the identical quantity throughout that interval.
CNBC has reached out to SEBI and Jane Avenue for remark.
— CNBC’s Aparajita Saxena contributed to this report
This can be a creating story. Please verify again for updates.
