India's markets regulator will tell a court this week that it sees no reason to release additional data and documents to Jane Street, two sources with direct knowledge of the matter said, after the U.S. firm appealed a securities trading ban.

The Securities and Exchange Board of India (SEBI) temporarily barred Jane Street in July, alleging the firm used its trading strategies to "manipulate" a key benchmark index of banking stocks, leading to losses for retail investors.

Jane Street denied the allegations and regained access to the Indian market by depositing a penalty amount. It also filed an appeal in India's Securities Appellate Tribunal (SAT) in September in which it sought additional data and documents.

SEBI's response, which has yet to be made public, will say that Jane Street's a

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