No fresh funds into Adani firms till clarity on accusations: TotalEnergies
TotalEnergies on Monday said it won't make any fresh financial contribution as part of its investments in companies of the Adani Group till it gets clarity on accusations against certain officials in the Indian conglomerate and their consequences.
«Until such time when the accusations against the Adani Group individuals and their consequences have been clarified, TotalEnergies will not make any new financial contribution as part of its investments in the Adani Group of companies,» TotalEnergies said in a statement.
The French energy company added that it was through public announcements made by US authorities that it learnt of the indictment of certain individual Adani Group executives in relation to an alleged corruption scheme linked to the business of Adani Green Energy Ltd (AGEL). «This indictment does not target AGEL itself, nor any AGEL-related companies,» it said.
Shares of AGEL fell on the news, closing 8.05% lower at Rs 967.65 apiece on the BSE on Monday, underperforming a 1.25% rise in the benchmark Sensex. Adani Total Gas lost 1.43% to Rs 600.75 apiece.
On 21 November, the US Department of Justice and the US Securities and Exchange Commission charged Gautam Adani, his nephew Sagar Adani, and AGEL managing director and CEO Vneet Jaain over allegedly bribes of over $250 million to Indian government officials, aimed at helping AGEL secure solar energy contracts from the Solar Energy Corporation of India (SECI), which in turn collated contracts between SECI and various Indian state electricity
