Total Energies Halts Investments Amid Adani Group Indictments

Total Energies has suspended further financial contributions to Adani Group following US indictments of executives. The energy company clarified its investments were compliant with legal standards and governance processes. With a 19.75% stake in AGEL, Total Energies strives to protect its interests amidst the unfolding legal situation.

Total Energies has announced a pause on financial contributions to Adani Group following recent indictments of some executives by US authorities. The energy giant emphasized that its investments in Adani Green Energy Limited (AGEL) adhered to lawful and internal governance protocols.

Clarifying its position, Total Energies stated it is not implicated in the indictments nor involved in the alleged activities. Holding a 19.75% stake in AGEL and a 50% joint venture stake in several projects, the company asserted it would take necessary measures to safeguard its interests.

Last week, the US District Court in New York indicted prominent Indian executives, including Adani Group Chairman Gautam Adani, in an alleged bribery and fraud scheme. In response, the Adani Group firmly denied the allegations, promising to exhaust all legal avenues. An official statement reiterated the company's commitment to governance and transparency.

(With inputs from agencies.)