The Congress on Saturday (May 3, 2025) wondered whether market regulator SEBI would prosecute Gautam Adani’s nephew, Pranav Adani, who has been accused sharing insider data.
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The Congress on Saturday (May 3, 2025) wondered whether market regulator SEBI would prosecute Gautam Adani’s nephew who has been accused sharing insider data.
Congress general secretary Jairam Ramesh said the people of India are still waiting for SEBI to complete the investigation into Adani’s violation of 24 counts of securities laws.
“The Modani Matter simply refuses to go away. Recently Gautam Adani’s nephew – who is a director in several Adani Group companies – has been accused of insider trading by sharing unpublished, price-sensitive information with his brother-in-law which resulted in ‘ill-gotten gains’ of ₹90 lakh,” he said in a post on X.
“Will SEBI once again let the Prime Minister’s favourite business group off with a slap on the wrist? Or will it prosecute the case to the full extent of the law?” Ramesh asked while sharing reports of Pranav Adni sharing insider data.
Meanwhile, he said, the people of India are still waiting for SEBI to complete the investigation into Adani’s violation of 24 counts of securities laws.
“It has been 26 months since the Supreme Court directed SEBI to complete its investigation following the Hindenburg revelations,” he said.
Meanwhile, SEBI’s U.S. counterpart — the Securities and Exchange Commission — has been much more proactive since it received evidence that between 2020 and 2024 Gautam Adani and seven associates offered ₹2,000 crore in bribes to Indian officials to secure solar power contracts that would have yielded over ₹16,000 crore in profits, the Congress leader noted.
“The Modi government has predictably chosen not to assist the SEC – now acting under President Donald Trump’s administration – in serving a legal summons to Adani despite repeated requests for assistance from the SEC, according to a 25 April 2025 SEC update,” Mr. Ramesh alleged.
Published – May 03, 2025 06:19 pm IST
Anurag Dhole is a seasoned journalist and content writer with a passion for delivering timely, accurate, and engaging stories. With over 8 years of experience in digital media, she covers a wide range of topics—from breaking news and politics to business insights and cultural trends. Jane's writing style blends clarity with depth, aiming to inform and inspire readers in a fast-paced media landscape. When she’s not chasing stories, she’s likely reading investigative features or exploring local cafés for her next writing spot.
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
