The SEBI chief, speaking to the media, said the capital markets regulator has also enhanced surveillance of such illegal practices. “Market manipulation is not going to be tolerated,” he added.

Following its ₹4,843 crore order against Jane Street Group for alleged index manipulation, Sebi Chairman Tuhin Kanta Pandey issued a stern warning that market misconduct — from domestic or foreign entities — will face zero tolerance.

These firms have been told to deposit Rs 4,843.5 crore, which SEBI says are illegal profits made through trading in index options on Indian stock exchanges. According to SEBI, Jane Street earned Rs 43,289.33 crore from such trades between January 1, 2023, and March 31, 2025.