Adani Group's Financial Turmoil and Global Repercussions Amid Bribery Charges

The Adani Group is facing global scrutiny as nations and investors distance themselves following U.S. charges against its chairman, Gautam Adani, for alleged bribery and fraud. The conglomerate has lost significant market value, with key investments and deals being affected across several countries, including TotalEnergies' withdrawal.

The Adani Group faces significant financial losses and reputational damage after its chairman, Gautam Adani, was indicted in the United States on charges of bribery and fraud. The allegations have caused several nations and investors to either halt or scrap deals with the conglomerate.

One of the major setbacks comes from French oil giant TotalEnergies, which has decided to refrain from further investments in the Adani Group. This decision came after the bribery charges surfaced, impacting TotalEnergies' 20% stake in Adani Green Energy. Adani Green's shares plummeted over 11% following the announcement.

Other affected projects include a $550 million U.S. loan for a Sri Lankan port and abandoned deals in Kenya, Bangladesh, and India's Andhra Pradesh amid mounting concerns over Adani's practices. The conglomerate remains under scrutiny, with countries reassessing deals in light of the indictment.

(With inputs from agencies.)