In re Delta Corp Limited (NCLT Mumbai)
The National Company Law Tribunal (NCLT), Mumbai Bench, considered a first motion joint company scheme application filed by four companies under Sections 230 to 232 of the Companies Act, 2013, seeking directions in relation to a Composite Scheme of Arrangement involving demerger and amalgamation. The application was filed on 16 September 2025. The registered offices of all four applicant companies are located in Maharashtra, bringing the matter within the Tribunal’s territorial jurisdiction. The Boards of Directors of all applicant companies approved the proposed scheme on 6 December 2024, and the appointed date of the scheme is April 2025.
The scheme involves three principal transactions. First, the hospitality and real estate business located in Goa (Demerged Undertaking 1) of the first applicant company is proposed to be transferred to the second applicant company. Second, the hospitality and real estate business outside Goa (Demerged Undertaking 2) is proposed to be transferred to the third applicant company. Third, the fourth applicant company, which operates in the gaming segment, is proposed to be amalgamated with the first applicant company. The applicant companies also furnished details of the assets and liabilities of both demerged undertakings through an additional affidavit dated 12 June 2026.
