PARTNERS and investors have started reviewing their ties with the Adani Group after the latter's indictment by a US federal court last week for corruption charges. These decisions could have serious ramifications not just for the group's international expansion but also funding of its ongoing domestic projects.
Its largest foreign investment partner Total Energies of France on Monday said "it will not make any new financial contributions as part of its investments into the Adani Group companies." "Until such a time when the accusations against the Adani Group individuals and their consequences have been clarified, we will not make any new financial contribution as part of our investments in the Group of companies," Total Energies said in a statement Monday issued from Paris.
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