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Jane Street hires Khaitan in index manipulation case
Livemint
·
27d ago
Medial
Jane Street, a US high-frequency trading firm, is accused by India's Securities and Exchange Board (Sebi) of manipulating the Bank Nifty and Nifty indices over two years through outsized trading positions. Jane Street has hired the law firm Khaitan & Co. to defend against these allegations. Sebi has ordered the firm to deposit gains from these activities and barred it from the capital market. Jane Street claims its actions were to align pricing divergences.
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Jane Street Slams Sebi Order as 'Fundamentally Mistaken' Amid Allegation Storm
StartupTalky
·
1m ago
Medial
Jane Street, a US-based trading firm, criticized a ruling by India's Securities and Exchange Board (Sebi), which accused it of market manipulation. Jane Street rejected the claim, describing its practices as basic index arbitrage and not manipulation. The company is exploring legal options, alleging Sebi misunderstood normal hedging practices. Sebi's order barred Jane Street from Indian markets and demanded INR 4,834 crores for purported illicit gains. Jane Street plans to formally challenge these allegations.
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Jane Street Returns to Indian Markets After SEBI Ban, Escrow Deposit of INR 4,800 Cr
StartupTalky
·
19d ago
Medial
Jane Street, a US-based trading firm, faced a temporary ban from the Indian markets by SEBI for allegedly manipulating index prices to profit. Accused of engaging in manipulative tactics within the Bank Nifty index, the firm contested these charges and returned to trading after depositing INR 4,800 crore into an escrow account. The case triggered discussions about legal arbitrage versus market manipulation, stirring concerns among institutional investors and highlighting regulatory scrutiny in India’s financial sector.
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Jane Street's path back to trading in India isn't easy
Livemint
·
24d ago
Medial
Jane Street, a quant trading firm, has deposited over ₹4,843 crore to comply with the Securities and Exchange Board of India's (Sebi) order concerning alleged market manipulation. Despite this compliance, the firm's immediate return to trading in India faces uncertainty due to multiple regulatory challenges and extensive scrutiny. The deposit was made to fulfill Sebi's interim order requirements, aimed at addressing "unlawful gains" from alleged index manipulation.
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India's tax department investigating Jane Street over possible tax treaty misuse, sources say
Economic Times
·
4d ago
Medial
India's tax authorities are investigating Jane Street for potentially misusing tax treaties by booking profits through its Singapore entities, possibly violating the General Anti-Avoidance Rules. The probe follows a ban by India's Securities and Exchange Board (SEBI) alleging manipulation of stock indexes. Jane Street has refuted SEBI's claims but is yet to comment on the tax investigation. If violations are found, Jane Street might face tax demands. The investigation is ongoing.
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Street theatre: Sebi pins down Jane Street for manipulation
Livemint
·
1m ago
Medial
Sebi has barred four entities of the US-based Jane Street Group from accessing the securities market, requiring them to deposit alleged illegal gains into an escrow account. The regulator cited evidence of index manipulation and fraudulent trading, ordering a seizure of ₹4,843 crore. The firm allegedly profited ₹36,502 crore from manipulated options trades across 21 sessions, prompting a full investigation. This crackdown affects India's equity market and related financial services sectors.
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Retail trading may be impacted if giants like Jane Street step back, warns Zerodha CEO
YourStory
·
1m ago
Medial
Zerodha CEO Nithin Kamath warns that retail trading could be affected if proprietary trading firms like Jane Street scale back activity, as they constitute nearly 50% of options trading volumes. The Securities and Exchange Board of India (SEBI) barred Jane Street for manipulating indices, impacting exchanges and brokers. The firm's potential pullback may significantly reduce market activity, demonstrating reliance on such firms for maintaining trading volume. Kamath praised SEBI's regulatory actions against alleged "blatant market manipulation."
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Sebi seeks brokers’ input on deepening markets after Jane Street crackdown
Livemint
·
19d ago
Medial
Sebi is seeking input from brokers on deepening market liquidity and promoting retail-friendly products following a critical order on Jane Street. Discussions included index futures, stock lending mechanisms, and addressing tax issues to encourage futures over options due to cost advantages. The regulator aims to prevent short-term trading frenzies that harm retail investors' judgments, focusing on making index futures more liquid, while maintaining openness to derivatives trading.
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Law firm Khaitan & Co hires three lawyers to bolster M&A practice
VCCircle
·
1y ago
Medial
Full-service law firm Khaitan & Co has hired three partners from Cyril Amarchand Mangaldas to strengthen its corporate and M&A practice. The new partners, Shishir Vayttaden, K. Aishwarya, and Aditi Singhvi, will join the firm's Mumbai and Bengaluru offices. Vayttaden, with 17 years of experience, specializes in public and private M&A and private equity transactions, while Aishwarya brings over 13 years of experience. Singhvi, with more than 12 years of experience, has previously worked with Cyril Amarchand, AZB & Partners, and Desai & Diwanji. Khaitan & Co has been expanding its team with recent partner appointments.
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Goldman Sachs hires BofA bankers for India dealmaking roles
VCCircle
·
1y ago
Medial
Goldman Sachs has hired two senior bankers from Bank of America for key positions in India. Sunil Khaitan will serve as Goldman's India head of financing, while Kamna Sahni will be India head of Mergers & Acquisitions (M&A). Both executives bring extensive experience in their respective fields and will join the bank in the coming months. The move is seen as a strategic step by Goldman Sachs to capitalize on the growing dealmaking and investor interest in India.
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ISN Exclusive: AstroTalk hires new CFO to beef up top deck
IndianStartupNews
·
2d ago
Medial
AstroTalk, an astrology startup based in Noida, has appointed Dipak Khaitan as its new Chief Financial Officer (CFO). This follows a massive 1,000% increase in profits for the fiscal year ending March 2024, driven by a significant rise in revenue. The company aims to expand its online store for spiritual products, strengthening growth with this strategic hire. Founded in 2017, AstroTalk connects consumers with astrologers for various consultations.
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