MUMBAI, Sept. 9 -- The Securities Appellate Tribunal (SAT) on Tuesday directed the Securities and Exchange Board of India (Sebi) to file its reply within three weeks in an appeal by US-based trading firm Jane Street Investments.

The appeal challenges Sebi's 3 July interim order barring the firm from trading in India over alleged manipulation of the Bank Nifty index. The challenge marked Jane Street's first legal move in the matter. The firm is seeking full disclosure of documents it says are essential to mounting a defence against the regulator's allegations.

"The appellant (Jane Street Investment) states that it has complied with the direction specified under the Sebi order. In order to file a reply, Jane Street has sought disclosure o...