France’s TotalEnergies decides to pause investments in Adani Green Energy, while US investment firm GQG Partners still backs the conglomerate amid concerns about foreign capital access.

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.

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

U.S. prosecutors allege that Gautam Adani, the second most-wealthy Indian man, personally met with Indian government officials to further their "bribery scheme."

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.

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 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.

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.