(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.

On Friday, the Securities and Exchange Board of India barred the firm from buying and selling securities in the Indian market and also seized $567 million of its funds.