According to the bulk deal data on the NSE, Ashish Rameshchandra Kacholia sold 15 lakh shares, equivalent to 0.56% equity, at a price of Rs 144.65 per share. It is worth noting that as of the June quarter, Kacholia did not hold a stake of over 1% in the casino operator. Additionally, there is no previous record of Kacholia owning a significant stake in Delta Corp.

Shares of Delta Corp slumped over 19% in the previous session after the company received notices from the Directorate General of GST Intelligence, Hyderabad, demanding payment of shortfall tax, interest, and penalty totaling Rs 16,822 crore.

Delta Corp has received notices from the Directorate General of GST Intelligence, Hyderabad, demanding payment of alleged tax shortfalls for the period from July 2017 to March 2022. The amounts claimed are significant, with Delta Corp being asked to pay Rs 628,20,31,726, Highstreet Cruises and Entertainment asked to pay Rs 32,89,94,41,744, and Delta Pleasure Cruise Company asked to pay Rs 17,65,21,80,638. The notices require payment of the alleged tax shortfalls, along with interest and penalty, or else a show cause notice will be issued.

Additionally, Delta Corp has received another intimation for payment of a tax liability of Rs 1,11,39,61,03,423. The company will challenge this demand as well through legal means.

Delta Corp and its subsidiaries believe the notices and tax demands are arbitrary and contrary to law, and they plan to pursue legal remedies to challenge them. The demands are based on the gross bet value of games played at the casinos, which has been a contentious issue in the industry.

Meanwhile, Delta Corp counter witnessed a significant block deal early today. Buyers and sellers remain undisclosed.

Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality and real estate. Its consolidated net profit grew by 18.9% to Rs 67.91 crore on 9% increase in revenue to Rs 272.80 crore in Q1 FY24 over Q1 FY23.