TotalEnergies SE said on Monday that it will not make any new financial contribution as part of its investments into the Adani group of companies amid a U.S. federal indictment against the head of the company and his nephew.

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 investment in Adani until bribery charges in the U.S. against some executives of the Indian diversified conglomerate are settled.

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.

TotalEnergies shares down as Adani Group executives indicted for corruption, but TTE not implicated and halts new contributions.

TotalEnergies' decision to halt further investments in Adani Group companies follows billionaire Gautam Adani’s recent indictment in a New York federal court concerning an alleged multibillion-dollar

Adani Green Energy said on Tuesday there is no new financial commitment under discussion with TotalEnergies , a day after the French oil major said it was pausing new investments into the Adani Group over U.

TotalEnergies is one of the biggest foreign investors in Adani's business empire and had previously taken stakes in the group's renewable energy venture.

French energy giant TotalEnergies has stopped investments in Adani Group following bribery charges against the Indian conglomerate's chairman. The move comes after U.S. authorities charged Adani's leadership with a $265 million bribery scheme to secure contracts.

Adani Group says TotalEnergies' decision to pause investments won't impact operations, as no new funding was under discussion. The French energy giant cited a US corruption investigation against Adani.