Markets regulator SEBI has barred US-based Jane Street Group from the securities markets and directed it to disgorge unlawful gains of ₹4,843 crore for allegedly manipulating stock indices through positions taken in the derivatives segment.

The disgorgement amount that SEBI has listed might be the highest one it has ever directed.

The Jane Street (JS) Group has come under Sebi’s scrutiny for allegedly manipulating stock market index levels to earn illegal profits. The company did this primarily with the highly liquid Bank Nifty and Nifty index options segments.

SEBI had launched an investigation into Jane Street early last year. Here is a timeline of the events.