TotalEnergies SE said on Monday that it will not make any new financial contribution as part of its investments into the Adani group of companies amid a U.S. federal indictment against the head of the company and his nephew.

French-based TotalEnergies has announced a suspension of new financial contributions to the Adani Group of companies following the indictment of certain Adani Group’s executives by US authorities. The indictment is linked to an alleged corruption scheme associated with Adani Green Energy Limited (AGEL).

TotalEnergies shares down as Adani Group executives indicted for corruption, but TTE not implicated and halts new contributions.

French oil major TotalEnergies halted on Monday investments into Adani Group, after the Indian ports-to-power conglomerate was engulfed in a crisis over an alleged multi-million-dollar bribery scheme.

TotalEnergies' decision to halt further investments in Adani Group companies follows billionaire Gautam Adani’s recent indictment in a New York federal court concerning an alleged multibillion-dollar

TotalEnergies is one of the biggest foreign investors in Adani's business empire and had previously taken stakes in the group's renewable energy venture.

TotalEnergies will pause investment in its Adani Green energy project until there is further clarity on a U.S. bribery case against Indian billionaire Gautam Adani, the French group's CEO, Patrick Pouyanne,

TotalEnergies has paused investments in India's Adani Group following allegations of a multi-million-dollar bribery scheme involving its chairman, Gautam Adani. Charges by US authorities have prompted scrutiny and led to falling stock prices.

Adani Group says TotalEnergies' decision to pause investments won't impact operations, as no new funding was under discussion. The French energy giant cited a US corruption investigation against Adani.

Adani Green Energy said on Tuesday there is no new financial commitment under discussion with TotalEnergies, a day after the French oil major said it was pausing new investments into the Adani Group over U.

Embattled billionaire Gautam Adani's group on Tuesday said French energy giant TotalEnergies' decision to pause new investments in the group will not have any material impact on operations and growth