‘SEBI’s Jane Street Action Must Be Backed by Hard Evidence’, says Corporate Lawyer HP Ranina

Mumbai, July 04 2025 (ANI): Reacting to SEBI's interim order on Jane Street Group, Corporate Lawyer HP Ranina said, "SEBI seems to have acted on some investigation otherwise they wouldn't have taken such a strong step... The interim order is premature; we have to consider what the facts are. If they show manipulation clearly, the interim order would be justified. Now, the option before the company is to appeal to the appellate tribunal, which will surely review all the facts. The company, Jane Street, will be able to present all the facts on record, and an adequate opportunity will be given to them. If necessary, the SEBI appellate tribunal may order a forensic audit to go into the transactions and the books of account. Thereafter, the appellate tribunal will pass an order... It all depends on the facts of the case... If there's factual evidence of manipulation as claimed by SEBI, then this order will stand in a court of law. Otherwise, it will be overruled."