US-based trading giant Jane Street has taken legal action against the Securities and Exchange Board of India, alleging that the regulator acted unfairly in a market manipulation case. The firm, known globally for its trading operations, has challenged SEBI’s findings and penalties, claiming the investigation lacked transparency.

According to reports, Jane Street argued that SEBI’s conclusions were not supported by sufficient evidence and that the firm followed all regulatory guidelines while operating in Indian markets. The company further stated that its reputation has been affected by what it calls a flawed inquiry.

SEBI has not issued a detailed response yet but is expected to defend its decision in court. The case is being closely watched in financial circles, as it could have implications for how global trading firms are regulated in India.