Adani Group Faces Crisis as TotalEnergies Halts Investments Amid Bribery Allegations

TotalEnergies has paused investments in India's Adani Group following allegations of a multi-million-dollar bribery scheme involving its chairman, Gautam Adani. Charges by US authorities have prompted scrutiny and led to falling stock prices. The scandal has sparked disruptions in India's parliament and raised questions about government favoritism.

TotalEnergies has decided to halt its investments in the Adani Group due to serious allegations of a bribery scheme involving the group's chairman, Gautam Adani. US authorities have accused Adani and others of agreeing to pay substantial bribes to Indian officials.

The French oil giant, with significant financial exposure to Adani firms, claims it was unaware of the ongoing investigation until now. TotalEnergies has called for clarity on the accusations before making any further financial commitments, reflecting on the growing criticism surrounding Adani's disclosure practices.

The scandal has sent shockwaves through India, causing a political disruption as opposition parties demand discussions on the issue in parliament. The controversy has also led to financial instability for Adani companies, causing a downturn in their stock market values.

(With inputs from agencies.)