Some nations and investors have either scrapped deals or halted investments in the Adani Group, after the United States indicted its billionaire chairman Gautam Adani for alleged bribery and fraud to win contracts for a group company,

Adani, 62, one of Asia’s richest men, was thrust into the spotlight last week when U.S. prosecutors in New York charged him and seven of his associates with securities fraud.

Adani Enterprises Ltd and Wilmar International Ltd are reportedly postponing a planned sale of at least 12% in their joint Indian food venture, Adani Wilmar Ltd, in light of a US bribery indictment involving Gautam Adani,

Adani has been charged by U.S. federal prosecutors with defrauding investors for a solar energy project in India.

Indian billionaire Gautam Adani has been slapped with criminal fraud charges in the US for allegedly orchestrating a $250m (£198m) bribery scheme to secure lucrative renewable energy contracts in his home country.

Adani, an Indian business magnate and one of the richest men in Asia, faces new allegations of fraud to secure solar energy supply contracts.

Federal prosecutors issued arrest warrants for the billionaire head of the Adani Group and his nephew Sagar, alleging they participated in a $265 million scheme to bribe Indian officials to secure power-supply deals.