Suntory Holdings Limited is expected to call off its deal to acquire 26% stake in Radico Khaitan Ltd. (BSE:532497) after due diligence, CNBC-TV18 reported citing sources. Sources stated that Suntory was not too happy with the due diligence process that was conducted and found gaping holes in the balance sheet. Radico Khaitan had started that process to hive off its IMFL business into a separate subsidiary.

The deal is valued at about INR 9 billion.