India has barred one of the world's largest quant trading firms, Jane Street, from accessing its securities market after an investigation found it made "unlawful gains", taking the most stringent action ever against a foreign trading firm.

India has barred Jane Street from the country’s financial markets and said it would seize around $570 million that the U.S. securities firm made from allegedly fraudulent trades.

SEBI bans Jane Street over ₹36,500 crore market manipulation, alleging expiry day index rigging and fake volume trades.