MUMBAI: In a procedural step, global trading giant Jane Street has transferred nearly Rs 4,844 crore into an escrow account marked in favour of Sebi, complying with a key condition of the markets regulator’s July 3 interim order. An escrow account holds funds securely until specific conditions are met. The US-based firm has also asked for trading restrictions to be lifted in light of the compliance. The regulator said this request is under examination in line with the directions of the order. The escrow deposit, therefore, allows Jane Street to seek relief from trading restrictions while retaining its right to contest Sebi’s findings.Sebi had banned the foreign fund from the Indian market for allegedly manipulating stocks and derivatives segments to make huge illegal gains. Jane Street, known for its quant-based trading strategies, was asked to return nearly Rs 4,850 crore – illegal gains accrued to it by trading on the NSE between Jan 2023 and March 2025 – the highest-ever disgorgement amount ordered by Sebi.In a statement issued on Monday, the regulator said: “Jane Street has stated that this action has been undertaken by them without prejudice to their rights and remedies which remain available to them in law and equity.” Sebi added it remains committed to due process and maintaining the integrity of the securities market.Jane Street maintains that its strategies were legitimate and that the trading patterns Sebi found suspicious were routine for high-frequency firms operating in global markets. It is expected to appeal the interim order at the Securities Appellate Tribunal.