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Adani Group

Adani's debts exceed 1% of Indian economy

Troubled conglomerate's woes deepen after share sale cancellation

Indian billionaire Gautam Adani says the Adani Group's balance sheet is healthy, despite the stock market turmoils.   © Reuters

MUMBAI -- Debts owed by Adani Group are equivalent to at least 1% of the Indian economy, a Nikkei analysis shows, underscoring the scale of the conglomerate's financial troubles amid accounting fraud allegations.

The liabilities attributed to 10 of Adani's listed group companies add up to 3.39 trillion rupees ($41.1 billion), according to a Nikkei calculation using data from QUICK FactSet. The companies include ACC, Ambuja Cements and New Delhi Television, three companies Adani purchased last year.

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