India's securities regulator barred U.S. trading company Jane Street from the local securities market, saying an investigation found it manipulated stock indices through positions taken in derivatives.

Sebi’s 100-page interim order authored by whole-time member Ananth Narayan G. offers a look into the inner workings of the US-based trading firm’s strategy, and how Jane Street allegedly distorted the Bank Nifty and Nifty 50 to profit from options trades.

India has banned the firm from the country’s financial markets and said it would seize around $570 million in profit for allegedly fraudulent trades.