Khaitan & Co Advised Delta Corp On Demerger Of Hospitality And Real Estate Business
Khaitan & Co Advised Delta Corp On Demerger Of Hospitality And Real Estate Business
Khaitan & Co advised Delta Corp Limited (formerly Arrow Webtex Ltd) on the demerger of its hospitality and real estate business into Delta Penland Private Limited (DPPL). This demerger was executed through a Composite Scheme of Arrangement under Sections 230–232, read with Section 66 of the Companies Act, 2013, with a mirror shareholding structure.
DPPL, a newly incorporated wholly owned subsidiary of Delta Corp, will manage the hospitality and real estate business. It is currently in the process of converting from a private limited company to a public company. Delta Corp will continue to focus on its core business of gaming (live, electronic, and online), while DPPL will manage the hospitality and real estate operations.
The core team at Khaitan & Co was led by Hiten Kotak (Executive Director), Mehul Shah (Partner), Bhavin Vora (Executive Director), Aman Yagnik (Counsel), Jamsheed Dadachanji (Principal Associate), Mohak Shingala (Senior Associate), and Hiren Kukreja (Associate).
