Sebi has barred U.S. trading firm Jane Street and affiliates from Indian markets for manipulating index levels on expiry days, booking illegal gains of Rs 4,840 crore through trades in over 40 Nifty and Bank Nifty stocks.

In a stunning expose of regulatory oversight, India's market regulator SEBI has been caught flat-footed in one of the most audacious cases of market manipulation in the country’s financial history. The US-based quant trading giant Jane Street Group LLC,

The U.S. trading firm’s entities are “further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly.”