TotalEnergies has suspended its investments in the Adani Group following allegations of a multimillion-dollar bribery scheme involving the group's chairman, Gautam Adani, and several associates.
The fallout from the US indictment has raised concerns among investors about the Adani Group's disclosure standards, prompting TotalEnergies to halt future contributions until clarity is achieved.
Charges against Adani and others include agreeing to pay $265 million in bribes to obtain profitable contracts, which may lead to increased scrutiny from other investors.
The Adani Group has refuted all allegations raised by the US authorities and the SEC, committing to pursue all possible legal avenues to defend its position.
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