Income tax department conducted survey campaign against Jane Street in case
The Income Tax Department on Thursday conducted a survey campaign in the premises of some broking companies as part of an investigation into the theft against American -owned trading company Jane Street, accused of manipulation in the market.
Official sources gave this information. Sources said that the department has recently been conducting a ‘verification’ campaign against Jane Street in the backdrop of the action of the capital market regulator Indian Securities and Exchange Board (SEBI).
He said that the officers are checking the account books and computer records of the American company under the survey in the office premises. The BSE said that it has sought clarification from Nuwama Wealth Management Limited, being described as Domestic Business Partners of Jane Street in connection with the report related to the action taken by the tax department in this case.
The email sent to Jane Street by PTI-no response has been received immediately. In an interim order issued on July 3, the Securities and Exchange Board of India found the Jane Street (JS) guilty of manipulating the indices by making futures and options markets as well as cash to the indices. From this, SEBI stopped ‘Hedge Fund’ from entering the market and confiscated a profit of more than Rs 4,843 crore.
The investigation found that Jane Street made a profit of Rs 36,671 crore on a net basis during the investigation period from January 2023 to May 2025. Hedge funds are private and non-specified investment funds.
Investigation found that JS made a profit of Rs 36,671 crore on a net basis during the investigation period from January 2023 to May 2025. However, on July 21, SEBI allowed Jane Street to resume the trade, when the company deposited a compulsory amount of Rs 4,843.57 crore in the Escro account.
Established in the year 2000, the Gen Street Group is a global -owned trading firm in the LLC Financial Services Industry. It gives employment to over 2,600 people in its five offices in the US, Europe and Asia and conducts business activities in 45 countries.
