Ace investor Ashish Rameshchandra Kacholia sold 15 lakh shares equivalent to 0.56% of total paid up equity of Delta Corp.

The company has been legally advised that the tax demand is arbitrary and contrary to law, and the company will pursue all legal remedies

The September 22, claim by the tax department is 3.5x Delta Corp’s last closing market cap and more than double the company’s last decade’s revenue. One saving grace is that the company is debt free.

The September 22, claim by the tax department is 3.5x Delta Corp’s last closing market cap and more than double the company’s last decade’s revenue. One saving grace is that the company is debt free.

The deal comes two months after GST Council announced its decision to impose a 28 percent Goods and Services Tax (GST) on casinos

Deliberations are at an early stage and Adani Enterprises may decide to keep its stake, Bloomberg has said

Keeping all of this in mind, Dhebar said that the IPO is on hold and the company will revisit this plan once complete clarity emerges.

This issue around tax payments by casinos stems from the lack of clarity in the tax law. Some establishments took advantage of this loophole and remitted GST at a much lower rate of 18 percent.

Another casualty will be the IPO plans of Delta Corp’s subsidiary, Deltatech Gaming Limited, formerly known as Gaussian Networks, and a leader in India's online gaming industry since 2011

Sell #AWL near 409.6 Stoploss 411.35