Delta Corp has scheduled a meeting of its unsecured creditors on August 13, 2026, to seek approval for a composite scheme of arrangement involving its subsidiaries. This meeting is convened pursuant to an order dated June 18, 2026, passed by the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench. The scheme involves the demerger and transfer of key business verticals among Delta Corp Limited, Deltin Hotel & Resorts Private Limited (DHRPL), Delta Penland Limited (DPL), and Deltin Cruises and Entertainment Private Limited (DCEPL).

NCLT-Directed Restructuring Plan

The proposed Composite Scheme of Arrangement is being executed under the provisions of Sections 230 to 232 of the Companies Act, 2013. The meeting is a mandatory procedural step required under the NCLT-directed process. Creditors will vote on the plan, which encompasses the demerger and transfer of the company's core operational segments. The regulatory framework governing this exercise includes Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016.

Business Segments Involved

The restructuring targets the company's primary operational verticals. The key business segments covered under the proposed scheme are outlined below:

Meeting Details

The meeting of unsecured creditors will be held through video conferencing (VC) or other audio-visual means (OAVM) on Thursday, August 13, 2026, at 02.30 p.m. IST. Approval from creditors is essential for the scheme to proceed to the next stage of implementation. The notice and relevant documents, including the statement under Sections 230 and 232 of the Companies Act, 2013, are available on the company's website.

The GST Council is expected to deliberate on the possibility of waiving historical GST liabilities for select industries, a development that has drawn considerable attention from stakeholders across affected sectors. Central to this discussion is Section 11A of the GST framework, which grants the Central Government the authority to condone past GST obligations for certain categories of industries.

Section 11A and Its Implications

Section 11A provides a legislative mechanism through which the Centre can excuse previously unpaid or disputed GST dues for specified industries. This provision has emerged as a focal point in ongoing policy conversations, particularly for sectors that have faced large-scale retrospective GST demand notices.

Delta Corp and the GST Liability Context

Delta Corp is among the companies operating in an industry that has been at the centre of GST-related disputes. The potential GST Council discussion on waiving past liabilities under Section 11A is particularly relevant for Delta Corp, given the backdrop of substantial GST demand notices that have been issued to companies in its sector.

Key Aspects of the Proposed Discussion

The following points summarise the core elements of the anticipated GST Council agenda:

• Agenda Item: Deliberation on waiving or excusing historical GST dues for certain industries
• Legislative Provision: Section 11A empowers the Central Government to forgive past GST obligations
• Scope: Applicable to select industries as may be determined by the GST Council
• Relevance: Companies such as Delta Corp, which have received GST demand notices, could be impacted by the outcome

Significance of the Development

The prospect of the GST Council addressing historical GST liabilities under Section 11A represents a significant policy development for industries that have been navigating large and disputed tax demands. Any formal decision by the GST Council on this matter would have direct implications for the financial positions of companies operating in the affected sectors. The outcome of these deliberations is being closely watched by industry participants and investors alike.