The tribunal also directed the Securities and Exchange Board of India (SEBI) to pause any personal hearings with the trading firm until the matter is heard again on Nov 18.

A pause on a personal hearing will delay a confirmatory order from the regulator until after Nov 18, as the process followed by it mandates a hearing before passing an order.

Last week, Jane Street filed an appeal against the markets regulator, seeking to compel it to release documents the US high-frequency trading firm said were pertinent to rebut allegations of market manipulation.

India’s markets regulator today said the investigation and final order on Jane Street could be much wider, adding that it will not release any documents that were not relied on for passing the order.

SEBI said the investigation against Jane Street is at a critical juncture and is ongoing.