Moreover, France's giant energy company and Adani Group's investor TotalEnergies will no longer make any new investments in the group's company.

After bribery charges by U.S. authorities, rating agency Moody's downgraded the ratings of seven Adani Group companies, including

Ratings agency Moody's said on Tuesday that it had cut the outlook on the ratings of seven Adani entities to 'negative' from 'stable,' citing the U.S. indictment of Chairman Gautam Adani and others on alleged bribery charges,

Moody's has revised its outlook for Adani Group companies. The US bribery scandal and Gautam Adani's indictment triggered the action. Several Adani companies face a negative outlook.

The downgrade comes in the wake of legal troubles involving Gautam Adani, the chairman of Adani Group, and his associates after charges of bribery by US authorities.