Mithi case: BMC engineer denied pre-arrest bail
Ramugade, deputy chief engineer of Mithi river development project, requested the court to grant the relief as he wanted to file an appeal in HC.
Last week, in a detailed order rejecting the anticipatory bail plea of deputy chief engineer of the stormwater drains department (operations and maintenance), Prashant Tayshete, the sessions court had said that prima facie evidence indicates he, along with other BMC officers, played a role in manipulating the tender terms and conditions to ensure the use of two specific machines for the desilting work. tnn
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Time of India
16 minutes ago
- Time of India
Sebi Plans to Heighten Derivatives Surveillance
Live Events The Securities and Exchange Board of India (Sebi) is planning to enhance its surveillance system to check manipulation in the derivatives market, chairman Tuhin Kanta Pandey said on Monday. This follows the regulator barring US-based proprietary trader Jane Street from the securities market for allegedly generating illegal profits by manipulating indices through large derivatives positions.'This (Jane Street case) is essentially a surveillance issue,' Pandey said on the sidelines of an event. 'Surveillance mechanisms will be upgraded further to strengthen oversight.' He added that monitoring will continue at Sebi's as well as stock exchange levels.'Manipulative practices can be worked out by different players in different ways,' Pandey said. 'There is no one particular way in which you have to assess. Our regulations clearly mention that manipulative and fraudulent practices are not allowed in the market, and within the regulations, Sebi has all powers to investigate and act.'The chairman appeared to be of the view that such practices aren't widespread. 'There may not be many more such cases,' he said in response to a question on whether other funds may have manipulated the markets in a similar week, Sebi ordered the seizure of what it said were 'illegal gains' made by Jane Street to the tune of Rs 4,844 crore ($570 million) in one of the toughest punitive actions against an international trader. It's likely the largest amount thus impounded by the entities tied to Jane Street Group — JSI Investments, JSI2 Investments, Jane Street Singapore and Jane Street Asia Trading — have been prohibited from dealing in securities, directly or Street, which started its India operations in 2020, made a profit of about $4.3 billion between January 2023 and March 2025, the period under review, on its India regulator's finding is that the NSE's Bank Nifty Index — comprising stocks of India's top dozen lenders — was manipulated in a complex and illegal manner aided by JS Group's immense trading, financial and algorithmic Street would drive up prices with heavy buying in the morning and send them down through a selling spree later in the day, according to Sebi. It also sought to push index levels down with heavy sell orders close to the option expiry, the regulator found that Bank Nifty options alone contributed Rs 17,319 crore, amounting to 40% of the total index option's profits.
Economic Times
33 minutes ago
- Economic Times
Sebi plans to heighten surveillance to check manipulation in derivatives market
Securities and Exchange Board of India will upgrade its surveillance to curb derivatives market manipulation. This follows action against Jane Street for alleged illegal index manipulation. Tuhin Kanta Pandey said monitoring will be strengthened at Sebi and stock exchange levels. Sebi had barred Jane Street and seized illegal gains of Rs 4,844 crore. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: The Securities and Exchange Board of India (Sebi) is planning to enhance its surveillance system to check manipulation in the derivatives market, chairman Tuhin Kanta Pandey said on Monday. This follows the regulator barring US-based proprietary trader Jane Street from the securities market for allegedly generating illegal profits by manipulating indices through large derivatives positions."This (Jane Street case) is essentially a surveillance issue," Pandey said on the sidelines of an event. "Surveillance mechanisms will be upgraded further to strengthen oversight." He added that monitoring will continue at Sebi's as well as stock exchange levels."Manipulative practices can be worked out by different players in different ways," Pandey said. "There is no one particular way in which you have to assess. Our regulations clearly mention that manipulative and fraudulent practices are not allowed in the market, and within the regulations, Sebi has all powers to investigate and act."The chairman appeared to be of the view that such practices aren't widespread. "There may not be many more such cases," he said in response to a question on whether other funds may have manipulated the markets in a similar week, Sebi ordered the seizure of what it said were "illegal gains" made by Jane Street to the tune of Rs 4,844 crore ($570 million) in one of the toughest punitive actions against an international trader. It's likely the largest amount thus impounded by the entities tied to Jane Street Group - JSI Investments, JSI2 Investments, Jane Street Singapore and Jane Street Asia Trading - have been prohibited from dealing in securities, directly or Street, which started its India operations in 2020, made a profit of about $4.3 billion between January 2023 and March 2025, the period under review, on its India regulator's finding is that the NSE's Bank Nifty Index - comprising stocks of India's top dozen lenders - was manipulated in a complex and illegal manner aided by JS Group's immense trading, financial and algorithmic Street would drive up prices with heavy buying in the morning and send them down through a selling spree later in the day, according to Sebi. It also sought to push index levels down with heavy sell orders close to the option expiry, the regulator found that Bank Nifty options alone contributed Rs 17,319 crore, amounting to 40% of the total index option's profits.
Time of India
34 minutes ago
- Time of India
Sebi plans to heighten surveillance to check manipulation in derivatives market
Mumbai: The Securities and Exchange Board of India (Sebi) is planning to enhance its surveillance system to check manipulation in the derivatives market, chairman Tuhin Kanta Pandey said on Monday. This follows the regulator barring US-based proprietary trader Jane Street from the securities market for allegedly generating illegal profits by manipulating indices through large derivatives positions. "This (Jane Street case) is essentially a surveillance issue," Pandey said on the sidelines of an event. "Surveillance mechanisms will be upgraded further to strengthen oversight." He added that monitoring will continue at Sebi's as well as stock exchange levels. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Photos Captured the Exact Wrong Moment Read More Undo Agencies Assessment from Various Angles "Manipulative practices can be worked out by different players in different ways," Pandey said. "There is no one particular way in which you have to assess. Our regulations clearly mention that manipulative and fraudulent practices are not allowed in the market, and within the regulations, Sebi has all powers to investigate and act." The chairman appeared to be of the view that such practices aren't widespread. "There may not be many more such cases," he said in response to a question on whether other funds may have manipulated the markets in a similar manner. Live Events Last week, Sebi ordered the seizure of what it said were "illegal gains" made by Jane Street to the tune of Rs 4,844 crore ($570 million) in one of the toughest punitive actions against an international trader. It's likely the largest amount thus impounded by the regulator. Four entities tied to Jane Street Group - JSI Investments, JSI2 Investments, Jane Street Singapore and Jane Street Asia Trading - have been prohibited from dealing in securities, directly or indirectly. Jane Street, which started its India operations in 2020, made a profit of about $4.3 billion between January 2023 and March 2025, the period under review, on its India trades. The regulator's finding is that the NSE's Bank Nifty Index - comprising stocks of India's top dozen lenders - was manipulated in a complex and illegal manner aided by JS Group's immense trading, financial and algorithmic prowess. Jane Street would drive up prices with heavy buying in the morning and send them down through a selling spree later in the day, according to Sebi. It also sought to push index levels down with heavy sell orders close to the option expiry, the regulator said. Sebi found that Bank Nifty options alone contributed Rs 17,319 crore, amounting to 40% of the total index option's profits.
