Pranav Adani Accused of Insider Trading, Seeks Settlement

India's market regulator, SEBI, has accused Pranav Adani, a director within the Adani Group and nephew of founder Gautam Adani, of sharing unpublished price-sensitive information regarding Adani Green's 2021 acquisition of SB Energy Holdings with his brother-in-law prior to the public announcement. SEBI alleges that this information enabled Kunal Shah and his brother Nrupal to trade Adani Green shares, resulting in gains of approximately $108,000. Pranav Adani has denied any wrongdoing but is seeking to settle the charges without admitting or denying the allegations, while the Shah brothers assert their trades were not based on insider knowledge or malicious intent. The matter remains confidential as settlement discussions continue. This scrutiny adds to broader challenges facing the Adani Group, which has also faced separate bribery and investor misrepresentation allegations in the United States, claims the company has denied.