Sebi’s 100-page interim order authored by whole-time member Ananth Narayan G. offers a look into the inner workings of the US-based trading firm’s strategy, and how Jane Street allegedly distorted the Bank Nifty and Nifty 50 to profit from options trades.

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

The Securities and Exchange Board of India (SEBI) has barred Jane Street, a US-based proprietary trading firm, and its affiliates from accessing the Indian securities markets and directed to disgorge ₹4,