TotalEnergies said it will not make any new investment in Adani until bribery charges in the U.S. against some executives of the Indian diversified conglomerate are settled.

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.

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.

Adani Group, led by billionaire Gautam Adani, faces increased scrutiny as U.S. bribery allegations lead to credit downgrades. The allegations involve a $265 million scheme linked to Indian power projects,

TotalEnergies (NYSE:TTE) said Monday it will not make any new investments in companies connected to India's Adani Group after the U.S. indicted founder Gautam Adani and other Adani executives over an alleged bribery scheme.

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).

On Monday, French energy major TotalEnergies said until such time as the bribery accusations against the Adani group individuals have been clarified, it will not make any new financial contribution

Adani Green Energy addressed concerns after TotalEnergies paused new investments following bribery charges against Adani Group's chairman. The company claims no financial impact from the halt. Adani Green shares dropped significantly,

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.