US-based trading firm Jane Street will challenge SEBI’s charges of market manipulation involving the Bank Nifty index. In an internal email, the firm slammed SEBI’s allegations as “inflammatory” and said it had been rebuffed despite efforts to cooperate.

Jane Street plans to contest a finding by India’s financial regulator that the Wall Street trading firm engaged in “an intentional, well planned, and sinister scheme” to manipulate the country’s markets.