Delta Corp, Peninsula Land under income tax scrutiny
Delta Corp is India’s largest and only listed company in the gaming and casino segment. It is under the lens of income tax authorities on Tuesday for alleged tax evasion. Peninsula Land Limited, the real estate arm of the Ashok Piramal Group is also under the scanner.
Around 25 residential and official premises, in Mumbai and Goa, of the two companies were covered. The promoters hold 41.58% stake in Delta Corp, investor Rakesh Jhunjhunwala and family hold 6.82% and IDBI Trusteeship Services Ltd holds 4.96% stake. Delta Corp, according to its website, owns India’s largest live offshore gaming vessel Deltin Royale, which has 850 gaming positions across 123 tables and 250 slot machines. India’s first live casino — Deltin Caravela — that offers 190 gaming positions is also run by the company.
Several popular properties in Mumbai such as Crossroads, CR2, Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Ashok Towers and Ashok Gardens are owned by Peninsula Land. The company has been allotted 170 acre land for the development of biotechnology SEZs and another 30 acres for the development of a gems and jewellery SEZ.
Source: The Economic Times
Delta Corp, IDBI, income tax department, Insurability, National Stock Exchange, Peninsula Land, Shares
