On July 3, the Sebi ordered the seizure of alleged Rs 4,843.57 crore ‘illegal gains’ Jane Street made through manipulative trading in Nifty futures (File)New York-based proprietary trading firm Jane Street on Monday asked the Securities and Exchange Board of India (Sebi) more time to respond to July 3 interim order, which accused the group of engaging in manipulative trading practices.“We are engaging constructively with Sebi and have sought an extension to respond to the interim order issued on July 3,” Jane Street group said in a statement.The group said it is committed to conduct that upholds the integrity of India’s capital markets and contributes to their continued development.On July 3, the Sebi ordered the seizure of alleged Rs 4,843.57 crore ‘illegal gains’ Jane Street made through manipulative trading in Nifty futures. The markets regulator also barred the firm from participating in any securities trading until the amount was recovered. In its interim order, Sebi had given 21 days (from July 3) to Jane Street to file their reply or objections.In response to the Sebi order, the US firm, on July 14, deposited Rs 4,843.57 crore in an escrow account with a lien in favour of the regulator. The group clarified that the deposit was made without prejudice to its legal rights and remedies, which it intends to pursue.Following the deposit of the money, Sebi permitted Jane Street to resume operations on July 21. However, the US firm will stay away from trading in both the options and cash markets until it resolves several issues with the regulator, a report by Reuters had said.Jane Street, a major player in India’s derivatives space, had strongly rejected Sebi’s allegations. In internal communications, the firm called the regulator’s claims “extremely inflammatory” and said it was deeply disappointed.© The Indian Express Pvt LtdTags:Sebi