India’s markets regulator said on Friday that it had dismissed cases related to alleged insider trading in the shares of Adani Green Energy against Pranav Adani, director of several Adani group companies and the nephew of the billionaire founder.
The Securities and Exchange Board of India was investigating whether Pranav Adani shared information about Adani Green’s 2021 acquisition of SoftBank-backed SB Energy Holdings with his brother-in-law before the deal was announced, the regulator said in its order.
Adani Enterprises’ $2.8 billion rights issue oversubscribed
Reuters reported earlier this year that SEBI in a regulatory notice had alleged that sharing price-sensitive information was a breach of regulations aimed at preventing insider trading.
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