Informist, Friday, Aug. 1, 2025

NEW DELHI – US trading firm Jane Street is not cooperating with the income tax authorities who are currently carrying out an investigation at their premises, a governmemnt official said. The Income Tax Department is probing Jane Street for alleged tax violations linked to the Securities and Exchange Board of India's market manipulation case.

Jane Street is limiting access to key financial documents and technology infrastructure needed for the inquiry, few media reports said.

This comes a day after the Income Tax Department carried out a survey at Nuvama Wealth Management's premises on Thursday, Jane Street's Indian trading partner. Searches at Nuvama premises were also linked to the same case.

On Jul. 4, SEBI had banned four entities of Jane Street group from participating in the securities market over allegations of index manipulation and in an interim order, directed to impound INR 48.44 billion from the four entities. The regulator found that Jane Street group entities made unlawful gains by manipulating the cash and derivatives markets. The entities infused large amount of funds in index constituents of Nifty 50 and Nifty Bank index constituents to manipulate prices in derivatives, especially options contracts.

Founded in 2000, Jane Street proprietary trading firm headquartered in New York. End

Reported by Priyasmita Dutta

Edited by Akul Nishant Akhoury

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