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’s stock market regulator has temporarily banned Jane Street from dealing securities in the country, accusing the New York-based trading firm of a “sinister scheme” to manipulate derivatives markets.

Despite the ban, the company has stated its intention to cooperate fully with SEBI, affirming its commitment to regulatory compliance globally.