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Pranav leaked the information of the deal 2 days before purchasing SB Energy. (Image AI is generated)
Pranav, nephew of Adani Group’s chairman Gautam Adani, has been accused of violating the rules of insider trading. According to Reuters, SEBI has accused Pranav Adani to leak secret information about the purchase of SB Energy of Adani Green in May 2021.
Pranav shared the information of the deal to buy SB Energy with Brother in-Law Kunal Shah and his brother Nripal Shah. Shah Brothers made a profit of Rs 90 lakh by taking advantage of this information.
Pranav Adani is the managing director of Adani Enterprises
Sebi’s charge- Information leaked 2-3 days before the deal
In the case, SEBI said that call records and trading patterns revealed that information was leaked 2-3 days before the deal to buy SB Energy on 16 May 2021. In response, Pranav told Reuters that they do not accept the allegations.
He said I did not break any law. They want settlement even after not accepting the allegations, so that the matter is over. At the same time, the Shah brothers’ counsel said, the trades were on the basis of public information. There was no wrong intention in this.
Adani Green made the biggest deal in the renewable energy sector
Adani Green made the largest deal in India’s renewable energy sector by purchasing SB Energy for $ 3.5 billion (about Rs 30,000 crore). Pranav is accused of leaking information about this deal.
Adani Group has been accused of fraud in America
In November 2024, 8 people, including Adani, were accused of bribing $ 250 million, or about Rs 2,029 crore to government officials. Last year, 8 people, including Adani in the US, were accused of fraud of billions of rupees. According to the US Attorney Office charge sheet, Adani’s company had incorrectly acquired the renewable energy projects in India. For this, government officials were bribed.
At the same time, in America, he collected money by lying to investors and banks. The entire case was related to Adani Group’s company Adani Green Energy Limited and another firm. On 24 October 2024, the case was registered in the Federal Court of New York.
Read this news also …. Adani gets a clean chit in a bribery case: no evidence found in American investigation; Allegations of bribe of ₹ 2,029 crore on Adani Green Energy
No evidence has been found in the investigation of the US Justice Department on corruption charges against Adani Group Chairman Gautam Adani and nephew Sagar Adani. Adani Green Energy said in a statement on Monday that there was no irregularity in the independent investigation of the top officials of the company including the chairman. Read full news …
