French energy company TotalEnergies SE said in a statement on Monday that it will not make any new investments in Adani Group companies until Adani Group founder Gautam Adani is acquitted of bribery charges. Would have been given. In its further statement, energy sector giant TotalEnergies said that it currently has no information about the investigation into alleged corruption.
What did TotalEnergies say on the whole matter
TotalEnergies said on this whole matter, “This indictment has been filed against neither AGEL (Adani Green Energy Ltd) nor any company related to Adani Total Gas Ltd (ATGL).” The company further said, “Until the allegations against Adani Group individuals and their consequences are made clear, TotalEnergies will not make any new investments in Adani Group companies.”
What is TotalEnergies SE?
Let us tell you, TotalEnergies is one of the largest foreign investors among Adani group companies. It has stake in Adani Green Energy Limited (AGEL) and Adani Total Gas Limited (ATGL). The French firm holds 37.4 percent stake in Adani Total Gas Limited. Whereas, TotalEnergies holds 19.75 percent stake in Adani Green Energy Limited.
Accusations have been made against Gautam Adani
In fact, just a few days ago, in a court in New York, America, seven people including Gautam Adani have been accused of bribery and fraud worth $265 million. These seven, including Gautam Adani, have been accused of offering bribes of more than $265 million to officials to get the project of solar power plants worth $2 billion in the next 20 years.
However, Adani Group has termed the allegations as “baseless” and has said that it will take legal recourse. The group said in the statement that all the allegations made by the US Justice Department and Securities Commission are without facts and have been rejected.
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