US-based proprietary trading firm Jane Street is not cooperating with the Income Tax Department in the ongoing investigation against it, sources told CNBC-TV18.According to sources, the firm’s servers are located outside India, and investigators are being denied access. Moreover, Jane Street’s books of accounts are also reportedly maintained overseas, despite Indian company law mandating that such records be kept within the country.
Sources said the entity has only a skeletal staff present in India, who too are not cooperating with the authorities.
On Thursday (July 31), the CNBC-TV18 first reported that the Income Tax Department conducted surveys at the Mumbai offices of Nuvama and Jane Street with the ongoing probe. This was later confirmed by Nuvama, which said the firm was cooperating fully with authorities and providing necessary information.On July 21, SEBI had lifted the trading restrictions on the US-based proprietary trading firm accused of market manipulation, after the company deposited ₹4,843.57 crore in an escrow account as mandated by the regulator.
Sources said the entity has only a skeletal staff present in India, who too are not cooperating with the authorities.
On Thursday (July 31), the CNBC-TV18 first reported that the Income Tax Department conducted surveys at the Mumbai offices of Nuvama and Jane Street with the ongoing probe. This was later confirmed by Nuvama, which said the firm was cooperating fully with authorities and providing necessary information.On July 21, SEBI had lifted the trading restrictions on the US-based proprietary trading firm accused of market manipulation, after the company deposited ₹4,843.57 crore in an escrow account as mandated by the regulator.
Jane Street Group, established in 2000, is a global proprietary trading firm with over 2,600 employees operating across offices in the US, Europe, and Asia, and conducts trading in 45 countries worldwide.
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