Delta Corp Announces EGM on April 9 to Approve Related Party Transactions
Delta Corp Limited will hold an EGM on April 9, 2026, to approve a modified related party transaction for shipbuilding, increasing the contract value from ₹320 crore to ₹400 crore. Additionally, approval will be sought for a corporate guarantee by a subsidiary for WSPL's loan, up to ₹2.25 crore.
The modification of a significant shipbuilding contract and the provision of a corporate guarantee involve substantial financial commitments and potential risks, thus having a medium impact on the company's financial structure and operations.
The announcement is a routine corporate event to seek shareholder approval for related party transactions and modifications, with no immediate positive or negative financial implications disclosed.
Delta Corp Limited has announced an Extra Ordinary General Meeting (EGM) of its members, scheduled to be held on Thursday, April 9, 2026, at 3:00 PM IST via Video Conferencing (VC)/Other Audio Visual Means (OAVM).
The EGM will convene to transact two key businesses. Firstly, to approve a modification to a related party transaction between Delta Pleasure Cruise Company Private Limited (DPCCPL), a wholly owned subsidiary, and Waterways Shipyard Private Limited (WSPL), an associate. The existing shipbuilding contract value of ₹320 crore (plus taxes) is proposed to be revised to up to ₹400 crore (plus taxes) due to cost escalations and additional requirements. This modification was reviewed and approved by the Audit Committee on March 10, 2026, and recommended by the Board of Directors on the same date.
Secondly, the EGM will seek approval for a corporate guarantee by DPCCPL for a loan proposed to be availed by WSPL. DPCCPL will provide a corporate guarantee for up to 45% of WSPL's loan, amounting to ₹5 crore, which translates to a guarantee of up to ₹2.25 crore (plus applicable taxes). WSPL will also pay an annual commission of 0.75% of the guarantee amount plus taxes to DPCCPL. This transaction was also reviewed and approved by the Audit Committee and recommended by the Board on March 10, 2026.
The notice for the EGM has been sent to the stock exchanges and is available on the company's website. Members can participate and vote electronically through remote e-voting, which will be open from April 5, 2026, to April 8, 2026. The company has provided detailed instructions for e-voting and attending the meeting virtually.
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Delta Corp Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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