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Jane Street Moves Supreme Court Over Legal Privilege Dispute Amid Tax Probe
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Jane Street operates trading subsidiaries in India and also manages offshore funds in Hong Kong and Singapore that are registered as FPIs
Jane Street Case
New York-based trading firm Jane Street has moved the Supreme Court of India amid a dispute with Indian tax authorities over the scope of legal privilege for certain internal communications, according to an Economic Times report on Friday.
The private quantitative trading firm, currently under scrutiny from both the Income Tax Department and capital markets regulator SEBI, has filed a review petition seeking judicial clarity on what constitutes “legal privilege.”
The case could have wider implications for Jane Street’s operations in India as well as for other corporate entities navigating the boundaries of privileged legal communications.
The Economic Times noted that the plea has reignited debate over whether confidential legal advice—including guidance from in-house legal teams acting in a legal advisory capacity—is protected under the Bharatiya Sakshya Adhiniyam, 2023, which replaced provisions of the Indian Evidence Act, 1872.
The filing is reportedly linked to enquiries by the Income Tax Department, which sought access to certain internal emails of Jane Street’s overseas operations as part of its investigation.
Jane Street operates trading subsidiaries in India and manages offshore funds in Hong Kong and Singapore, which are registered as foreign portfolio investors (FPIs) with SEBI.
February 13, 2026, 10:52 IST
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