No one’s burning rubber up the asphalt these days, at least not on deal street. With a string of deals falling through in the past few months, dealmakers at India Inc seem to be cooling their heels, at least for the time being. Compared to the corresponding period last year, M&As have dried up and their announced valuation in the first three months of this year coming down by almost 71%. And though PE deals have hit the road again after an initial stutter, the buzz in investment banking circles is depicting a different story, that of deals not going through. Sample this: Recently, the retail arm of the Future Group, Kshitij Advisory Services, which formed a strategic JV with CapitaLand, Asia’s largest property group, to form Kshitij CapitaLand Mall Management Co, has been called off. Subsequently, a deal announced in January this year by Mumbai-based shipping major Great Offshore, to acquire the UK-based SeaDragon Offshore for $1.4 billion, is said to be now under review. […]