Adani Nephew Pranav Adani Probed in Insider Trading Leak: SEBI Acts.

India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), has reportedly accused Pranav Adani—nephew of Gautam Adani and director in several Adani Group firms—of breaching insider trading regulations. According to documents accessed by Reuters, Pranav Adani allegedly disclosed price-sensitive information to his brother-in-law, Kunal Shah, prior to a public announcement concerning a major acquisition. While settlement discussions are underway, this case adds to the growing regulatory scrutiny around the Adani Group.

In 2023, SEBI served a formal notice to Pranav Adani for allegedly leaking details regarding the 2021 acquisition of SB Energy Holdings, a company owned by Japan’s SoftBank. This sensitive information was reportedly shared with Kunal Shah before it was publicly disclosed, a source told the news agency. Subsequently, Kunal Shah and his brother, Nrupal Shah, purchased shares of Adani Green Energy and earned an unlawful profit of approximately ₹90 lakh, as per SEBI’s findings.

Despite the serious allegations, the Shah brothers have denied that their trades were based on unpublished price-sensitive information. Sources revealed that SEBI offered them a chance to settle the case, but the proposed conditions were deemed too stringent. Consequently, they chose to challenge the charges rather than agree to a settlement.

Meanwhile, Pranav Adani has reportedly opted for a partial settlement without admitting or denying guilt. This decision allows him to pay a financial penalty and comply with regulatory directions without officially acknowledging any wrongdoing. SEBI’s settlement framework enables such resolutions, providing flexibility to market participants while upholding compliance standards.

This development is the latest in a string of regulatory and ethical concerns surrounding the Adani conglomerate. The group’s aggressive expansion strategy and financial dealings have frequently attracted criticism from industry watchdogs and media outlets, including Sprouts News. These allegations, if proven, could severely impact investor sentiment and regulatory trust.

Sprouts News remains committed to uncovering and reporting on corporate malpractice within influential industrial houses. The Sprouts Team is actively working to expose questionable policies and opaque governance practices linked to the Adani Group.