NCLT Mumbai approves first motion for Delta Corp's composite scheme to demerge hospitality/real estate business and amalgamate gaming subsidiary.
Scheme creates two listed entities: Delta Corp for gaming and Delta Penland for hospitality/real estate with 1:1 share swap ratio.
Meetings ordered for Delta Corp's 364,983 equity shareholders and 1,043 unsecured creditors to approve the arrangement.
Appointed date for the scheme is set as 01 April 2025 with all regulatory approvals pending.