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 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).

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

SINGAPORE/SYDNEY, Nov 25 (Reuters) - Adani dollar bond prices fell to almost one-year lows on Monday as investors cut their exposure to the Indian conglomerate in the wake of bribery and fraud allegations from U.S. authorities.

According to the charge, FBI investigators served Sagar Adani with a search warrant and a grand jury subpoena in March 2023.

Total also owns a 37.4% stake in Adani Total Gas Limited, as well as a 50% stake in three renewable joint ventures with Adani Green Energy. Two of those joint ventures were entered into after the FBI served search warrants on Sagar Adani and seized evidence related to Adani Green Energy.

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,

TotalEnergies said 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 executives.

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.