(Reuters) -Jane Street plans to contest a finding by India's financial regulator that the U.S. trading firm engaged to manipulate the country's markets, the Financial Times reported on Monday. Jane Street's senior management said it was "beyond disappointed" by the regulator's "extremely inflammatory" accusations and were "working on a formal response" to rebut them,

Sebi has order a ₹4,844 crore seizure from Jane Street entities, marking the largest action against a foreign firm.

Jane Street is accused by SEBI of market manipulation, facing a trading ban and a demand for USD 550 million in profits. The firm plans to contest the claims.