93% Percent Investors Lost Money, Congress Targets SEBI In Jane Street F&O Scam
New Delhi: The Congress party has blamed the Securities and Exchange Board of India( SEBI) for not acting promptly enough to stop the US trading company Jane Street from allegedly manipulating Indian stock request indicators.
“ By operating at the same time in the share request and the derivations request, the American algorithm- grounded trading establishment Jane Street earned lakhs of crores in gains, while ordinary people lost their plutocrat. SEBI has verified that the way they outfitted the requests was fully illegal, ” said Congress spokesperson Supriya Shrinate.
What happed?
On July 3, SEBI banned Jane Street, one of the world’s largest quantitative trading enterprises, from trading in India for allegedly manipulating the requests. This is a rare move against a foreign company.
Congress said, “ Between January 2023 and March 2025, Jane Street earned Rs 36,000 crores in Indian requests. Ninety- three percent of ordinary retail investors in the futures request lost heavily. So how can you celebrate after you’ve only asked Jane Street to return a bit of the gains? ”
Shrinate also blamed SEBI for being slow. “ In the derivations request, where trades be in seconds and milliseconds, it took SEBI four times to shut down Jane Street! This happed indeed though numerous fiscal experts wrote to SEBI in 2024 advising them about Jane Street’s operations, ” she said.
She added that Congress leader Rahul Gandhi has always advised people about “ swindles ” in the stock request.
How Did Jane Street Manipulate the request?
According to SEBI
Jane Street would buy large quantities of stocks and futures beforehand in the day, making other dealers suppose the request was going up.
latterly in the day, they would aggressively vend these stocks, which caused the indicator to fall.
This strategy misled other investors and allowed Jane Street to make huge gains.
SEBI’s conduct
SEBI has ordered Jane Street to return Rs 4,800 crores that it made immorally using these styles.
A SEBI functionary told Bloomberg that the disquisition will now expand to other major stock indicators, including the Nifty 50 and Sensex, in the coming months.
Jane Street’s Response
Jane Street has dissented with SEBI’s findings. According to Reuters, the company told its staff in an internal dispatch that it would fight the ban. Jane Street said its trading was “ introductory indicator arbitrage trading ” and was “ beyond disappointed ” by what it called “ extremely seditious ” allegations from SEBI.
