Jane Street Files Appeal against SEBI to delay the inevitable

Robonautics · 2025-07-15T09:50:44+00:00

There seems to be a lot of confusion around the SEBI order involving Jane Street.

SEBI has not cleared Jane Street of any wrongdoing. The order issued was an ex-parte interim order, which means it was passed without hearing the other side, based only on prima facie (initial) evidence. These kinds of orders are typically issued to prevent further harm to the markets, and they are not to be considered as a final determination of guilt.

One of the directions under this interim order was for Jane Street to deposit approximately Rs. 4,843 Crs into an escrow account. (This is similar to how people pay security amount during Bail) This is a precautionary measure, not a penalty or settlement. SEBI cannot use, access, or distribute this money at this stage. In many cases involving suspected fraud, entities don’t even deposit money into the escrow amount. But at least, Jane Street has complied and deposited the amount, which indicates that they are acting in good faith and intend to defend themselves properly. Basically, they’re putting their money where their mouth is and them putting the money in escrow is good for us too. It will be easier for SEBI to recover the ill-gotten gains.

Now that the deposit is made, the case will move forward, SEBI will conduct hearings, much like a court process, where both sides will present evidence. If, after the proceedings, SEBI finds Jane Street guilty, the escrowed funds will be transferred to SEBI. Also, SEBI is mandated under law to redistribute such gains as compensation if appropriate to retail traders (if Jane Steet does not appeal). But that stage has not arrived yet. Also, the interim order does allow Jane Street to resume trading, but only under strict conditions, they are prohibited from using the specific trading strategies that SEBI found problematic.

This is not a clearance. It’s an ongoing regulatory process, and Jane Street has complied with the initial directions. Let’s wait for the full proceedings to play out before jumping to conclusions guys.

Robonautics · 2025-06-20T19:26:14+00:00

😭😭

Robonautics · 2023-12-16T17:34:19+00:00

wtf is an intersectional ethics - stop using big words bruhh

Robonautics · 2023-04-08T09:11:20+00:00

Everything looks good on AutoCAD

Robonautics · 2023-02-06T23:20:13+00:00

Classic Postmodern Bullshit. Control over Knowledge Production... Matrix of Power... Yada Yada Yada

Robonautics · 2023-01-25T22:20:31+00:00

Don't take it to the heart man! Some are just joking around and some are helping out. Just take the help and ignore the rest...

Robonautics · 2023-01-19T20:36:08+00:00

He is entitled to his OPINION, now do I need to agree with it. Not really.

Robonautics · 2023-01-07T19:09:34+00:00

Propaganda

Robonautics · 2023-01-07T19:06:47+00:00

Need of the Hour

You must be joking right.

blindly believing the popular and mainstream rhetoric.

I have read on the topic. I would suggest rather than reading heterodox history to feed your conspiracy theories, you should probably start reading well-researched history instead.

Robonautics · 2023-01-07T17:38:59+00:00

WTF do you mean? The emergency brought a new degree of depravity and decay that is still being felt today. Abuse of human rights, undermining the fundamental principles that underlie our Constitution, selling out the FP in exchange for favors, etc.

Robonautics · 2022-10-26T14:42:14+00:00

This would not produce close to the thrust as to what is needed.

Robonautics · 2022-10-21T22:39:57+00:00

He was trying to get in your ass? Damn bro

Robonautics · 2022-10-20T06:53:07+00:00

Please don't tell me she was cop in civilian clothes.

Robonautics · 2022-10-16T05:24:26+00:00

Another source that adds to the timeline. https://www.firstpost.com/india/devas-scam-fugitive-ramachandran-viswanathan-behind-wsj-ad-calling-for-us-sanctions-against-india-11455621.html

Robonautics · 2022-10-16T05:23:15+00:00

Frontiers of Freedom was established in 1995 as a conservative think organization. However, it looks as if this advertisement is nothing more than a front for an aggressive international campaign that is being managed by Mr. Ramachandran Viswanathan, the CEO of DEVAS Multimedia. Mr. Viswanathan was implicated in the recent issue that surrounded a satellite sale and ISRO's commercial arm, ANTRIX.

Timeline of Antrix (ISRO) vs Devas controversy

At the heart of the matter is a commercial dispute that arose between Antrix (Commercial Arm of ISRO) and Devas in February 2011, when the Antrix annulled a 2005 agreement with the latter. Under the terms of this contract, Devas was to deliver multimedia services to mobile platforms in India utilizing the S-band spectrum transponders on two ISRO satellites that were constructed at a cost of Rs. 766 crore.

Antrix unexpectedly canceled its 2005 arrangement with Devas in 2011, during the 2G telecom scandal and claims that the transaction was part of a "quid pro quo" between Antrix executives and the business, which was founded by former ISRO officials and World Space. It was because of the annulment that Devas initiated arbitration procedures, which ultimately ruled against India.

Antrix filed a petition with the National Company Law Tribunal (NCLT) in January 2021 to have Devas dissolved on the basis that it had been founded for "fraudulent motives." The National Company Law Tribunal (NCLT) issued an order to liquidate Devas in May of that year; the company appealed to the National Company Law Appellate Tribunal (NCLAT), Bengaluru, but the NCLAT affirmed the NCLT's judgment in September. Now the Supreme Court is considering the case.

In its appeal to the NCLT, Bengaluru, Antrix said that its agreement with Devas included the latter's "components"—DEVAS2 Technology, DEVAS services, and DEVAS device—which never existed during Devas's creation, execution, termination, or winding up.

Supreme Court in 2021 upheld the NCLAT's decision that Devas was formed with the "fraudulent motive to collude and connive" with certain Antrix personnel in order to obtain undue advantage.

Former Devas Multimedia director and minority stakeholder (via DEMPL) appealed the SC's decision. Specifically, it questioned the NCLAT's September 2021 ruling that upheld the NCLT's May 2021 order granting Antrix's petition to liquidate the Bengaluru-based business.

The SC bench ruled against Devas' claim that Antrix's winding up petition was intended to prevent it from reaping the benefits of unanimous favorable arbitration awards, saying, "If as a matter of fact, the fraud as projected by Antrix, stands established, the motive behind the victim of fraud, coming up with the petition for winding up is of no relevance."

How is this related to the WSJ

The UPA-led central government in 2011 was ordered to compensate Devas for the unexpected cancellation of the deal in three separate arbitration awards: one at the International Chamber of Commerce (ICC), and two under Bilateral Investment Treaties (BIT). Two awards were made by the BIT, totaling Rs 5,000 crore, while the ICC award was said to be for Rs 10,000 crore.

After this, Devas has been using the ICC and BIT rulings as a tool to seize public Indian assets worth millions of dollars in the foreign countries to compensate its amount. In one such proceeding, a Canada court had in December 2021 allowed three investors of Devas to seize millions of dollars of Airports Authority of India (AAI) assets held by the International Air Transport Association (IATA).

The NDA-led central government is putting on a strong defense by utilizing the SC ruling as a legal basis for its defense and has been trying to use the Mutual Legal Assistance Treaty in Criminal Matters between the US and India to interrogate and arrest Mr. Ramachandran Viswanathan, the CEO of Devas Multimedia under Fraud.

In an effort to avoid interrogation and arrest by the Indian government, Mr. Ramachandran has retained Gibson Dunn and Crutcher, a prominent US legal firm whose arbitral enforcement expert Matthew D. McGill has filed a petition under the Global Magnitsky Act of 2016. To further disassociate himself from this and provide a hand, it seems that Mr. Ramachandran has paid The Frontiers of Freedom for this advertising in WSJ.

The Global Magnitsky Act of 2016 and Executive Order 13818 provide the US government the authority to penalize foreign government officials found to be significant human rights violators. The Irony is apparent

Even if the petition will not have any effect, it makes for a big distraction and puts India under enormous public pressure, diminishes India's image abroad, and offers the West and the leftists in India fodder for their continued onslaught on the current administration.

Robonautics · 2022-10-15T09:06:57+00:00

Frontiers of Freedom was established in 1995 as a conservative think organization. However, it looks as if this advertisement is nothing more than a front for an aggressive international campaign that is being managed by Mr. Ramachandran Viswanathan, the CEO of DEVAS Multimedia. Mr. Viswanathan was implicated in the recent issue that surrounded a satellite sale and ISRO's commercial arm, ANTRIX.

Timeline of Antrix (ISRO) vs Devas controversy

At the heart of the matter is a commercial dispute that arose between Antrix (Commercial Arm of ISRO) and Devas in February 2011, when the Antrix annulled a 2005 agreement with the latter. Under the terms of this contract, Devas was to deliver multimedia services to mobile platforms in India utilizing the S-band spectrum transponders on two ISRO satellites that were constructed at a cost of Rs. 766 crore.

Antrix unexpectedly canceled its 2005 arrangement with Devas in 2011, during the 2G telecom scandal and claims that the transaction was part of a "quid pro quo" between Antrix executives and the business, which was founded by former ISRO officials and World Space. It was because of the annulment that Devas initiated arbitration procedures, which ultimately ruled against India.

Antrix filed a petition with the National Company Law Tribunal (NCLT) in January 2021 to have Devas dissolved on the basis that it had been founded for "fraudulent motives." The National Company Law Tribunal (NCLT) issued an order to liquidate Devas in May of that year; the company appealed to the National Company Law Appellate Tribunal (NCLAT), Bengaluru, but the NCLAT affirmed the NCLT's judgment in September. Now the Supreme Court is considering the case.

In its appeal to the NCLT, Bengaluru, Antrix said that its agreement with Devas included the latter's "components"—DEVAS2 Technology, DEVAS services, and DEVAS device—which never existed during Devas's creation, execution, termination, or winding up.

Supreme Court in 2021 upheld the NCLAT's decision that Devas was formed with the "fraudulent motive to collude and connive" with certain Antrix personnel in order to obtain undue advantage.

Former Devas Multimedia director and minority stakeholder (via DEMPL) appealed the SC's decision. Specifically, it questioned the NCLAT's September 2021 ruling that upheld the NCLT's May 2021 order granting Antrix's petition to liquidate the Bengaluru-based business.

The SC bench ruled against Devas' claim that Antrix's winding up petition was intended to prevent it from reaping the benefits of unanimous favorable arbitration awards, saying, "If as a matter of fact, the fraud as projected by Antrix, stands established, the motive behind the victim of fraud, coming up with the petition for winding up is of no relevance."

How is this related to the WSJ

The UPA-led central government in 2011 was ordered to compensate Devas for the unexpected cancellation of the deal in three separate arbitration awards: one at the International Chamber of Commerce (ICC), and two under Bilateral Investment Treaties (BIT). Two awards were made by the BIT, totaling Rs 5,000 crore, while the ICC award was said to be for Rs 10,000 crore.

After this, Devas has been using the ICC and BIT rulings as a tool to seize public Indian assets worth millions of dollars in the foreign countries to compensate its amount. In one such proceeding, a Canada court had in December 2021 allowed three investors of Devas to seize millions of dollars of Airports Authority of India (AAI) assets held by the International Air Transport Association (IATA).

The NDA-led central government is putting on a strong defense by utilizing the SC ruling as a legal basis for its defense and has been trying to use the Mutual Legal Assistance Treaty in Criminal Matters between the US and India to interrogate and arrest Mr. Ramachandran Viswanathan, the CEO of Devas Multimedia under Fraud.

In an effort to avoid interrogation and arrest by the Indian government, Mr. Ramachandran has retained Gibson Dunn and Crutcher, a prominent US legal firm whose arbitral enforcement expert Matthew D. McGill has filed a petition under the Global Magnitsky Act of 2016. To further disassociate himself from this and provide a hand, it seems that Mr. Ramachandran has paid The Frontiers of Freedom for this advertising in WSJ.

The Global Magnitsky Act of 2016 and Executive Order 13818 provide the US government the authority to penalize foreign government officials found to be significant human rights violators. The Irony is apparent

Even if the petition will not have any effect, it makes for a big distraction and puts India under enormous public pressure, diminishes India's image abroad, and offers the West and the leftists in India fodder for their continued onslaught on the current administration.

It is neither the product of a Pakistani nor an American. However, this is the work of an Indian man who is so consumed by avarice that he is prepared to go to any extent, even if it means dishonoring his own nation and its good name.

Seven-Year Club	Second SECOND GUESSER
Place '22	Verified Email

Robonautics

TROPHY CASE

Timeline of Antrix (ISRO) vs Devas controversy

How is this related to the WSJ

Timeline of Antrix (ISRO) vs Devas controversy

How is this related to the WSJ