Delta Corp Limited has filed a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, dated May 7, 2026, updating stock exchanges on a significant regulatory development concerning its proposed new cruise vessel in Goa. The disclosure references an earlier communication dated January 15, 2026, which had outlined the company's plans to induct and operationalize a new cruise vessel in the state.

Bombay High Court Order on River Mandovi Operations

Following a public interest litigation filed before the Hon'ble High Court of Bombay, the court has passed an order stipulating that once all certificates and requirements for the new vessel have been obtained, the company must seek the court's permission prior to the new vessel sailing into the River Mandovi. This judicial directive adds a regulatory layer to the company's vessel induction process, requiring court approval as a prerequisite to commencing operations on the river.

The key details of the disclosure are summarized below:

Certificate Procurement Underway

Delta Corp has informed the exchanges that it is currently in the process of obtaining the necessary certificates for the new vessel. The company has not provided a specific timeline for the completion of this process. The disclosure was signed by Dilip Vaidya, Company Secretary & Vice President – Secretarial (FCS No. 7750), on May 7, 2026.

The filing was submitted to both the National Stock Exchange of India Ltd. and BSE Ltd. in compliance with applicable listing regulations.

Delta Corp Limited has received significant legal relief as the Supreme Court of India issued a stay order on tax notice proceedings against the company and its subsidiary. The order, passed on April 30, 2026, provides temporary respite from ongoing tax-related legal challenges.

Supreme Court Order Details

The Hon'ble Supreme Court of India has stayed further proceedings pertaining to tax notices received by Delta Corp Limited and its subsidiary, Highstreet Cruises and Entertainment Private Limited. The stay will remain in effect until the final disposal of the main legal matter.

Background of Tax Notices

The current legal relief follows the company's previous disclosure dated March 18, 2026, which informed stakeholders about notices received for alleged short payment of tax. Both Delta Corp Limited and its subsidiary Highstreet Cruises and Entertainment Private Limited were subject to these tax notices from authorities.

The Supreme Court's order specifically states that further proceedings of all impugned show cause notices shall remain stayed until the final disposal of the main matter along with all tagged matters. This comprehensive stay covers all related proceedings, providing broad protection for the company during the pendency of the case.

Legal Representation and Proceedings

The case was heard by a strong legal team representing the petitioners, led by Senior Advocate Mr. Gopal Sankarnarayanan. The legal team included multiple advocates ensuring comprehensive representation before the apex court.

Regulatory Compliance

Delta Corp Limited disclosed this development in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Company Secretary & Vice President- Secretarial Dilip Vaidya (FCS NO.7750) on May 1, 2026.

The stay order provides the company with breathing room while the substantive legal issues are resolved through the judicial process. The matter will now await the decision in the referenced Special Leave Petitions before any further proceedings can commence on the tax notices.