Kishore Biyani, founder and chief executive officer of Future Group, poses in his company’s office in Mumbai, India. (Photographer: Santosh Verma/Bloomberg News)
As the closure of a proposed deal between Kishore Biyani's Future Group and Reliance Retail Ltd. continues to drag out, lenders are starting to get nervous. The Future Group is having to take on more debt to keep operations running, particularly amid a pandemic-induced slowdown, leaving bankers questioning whether a larger share of the debt will now be unsustainable.For every month of delay in closing the transaction with Reliance Re...