Delta Corp Ltd Directors Report

To the Shareholders

Your Directors have pleasure in presenting the thirty-third (33^rd) Directors Report of Delta Corp Limited ("the Company") along with the financial statements for the financial year ended 31^st March, 2024.

1. FINANCIAL SUMMARY AND HIGHLIGHTS

Certain key aspects of your Companys performance during the financial year ended 31^st March, 2024 as compared to the previous financial year are summarised below: (Rs in Crores)

Particulars	Standalone		Consolidated
	Year Ended 31st March, 2024	Year Ended 31st March, 2023	Year Ended 31st March, 2024	Year Ended 31st March, 2023
Gross Income from Operations	635.66	594.06	1,010.48	1,036.02
Less : Customer Incentive - Online Skill Gaming	-	-	69.78	56.30
Less : Intragroup Transactions	-	-	15.40	15.25
Income from Operations	635.66	594.06	925.30	964.47
Other Income	39.09	32.01	56.92	46.39
Total Income	674.75	626.07	982.22	1,010.86
Profit before Interest, Depreciation and Tax	313.81	302.61	350.31	396.73
Finance Cost	(5.26)	(2.98)	(11.04)	(9.61)
Profit before Depreciation and Taxes	308.55	299.63	339.27	387.12
Depreciation & Amortisation Expenses	(37.04)	(30.50)	(63.78)	(58.65)
Total Tax Expenses	(76.93)	(49.69)	(81.56)	(66.98)
Exceptional Items	58.86	(3.55 )	49.78	-
Minority Interest & Profit from Associate Company	-	-	0.52	(0.12)
Net Profit for the Current Year	253.44	215.90	244.23	261.37
Earlier Years Balance Brought forward	672.47	487.74	776.92	546.72
Net Profit available for Appropriation	925.91	703.64	1,021.15	808.09
Appropriation:
Dividend on Equity Shares	(33.47 )	(33.43)	(33.47)	(33.43)
Transfer from Share Option Outstanding Account	9.76	2.26	9.76	2.26
Transferred from other Comprehensive Income	10.46	-	10.48	-
Balance carried to Balance Sheet	912.66	672.47	1,007.53	776.92

The standalone gross revenue from operations for financial year 2023-24 was 635.66 Crores (previous year: 594.06 Crores). The operating profit before tax stood at 271.51 Crores (previous year: 269.14 Crores). The net profit after tax for the year stood at 253.44 Crores (previous year: 215.90 Crores).

The consolidated gross revenue (including customer discount on online skill gaming and intragroup transactions) from operations for financial year 2023-24 was 1,010.48 Crores (previous year: 1,036.02 Crores), the consolidated operating profit before tax stood at 275.49 Crores (previous year: 328.47 Crores). The consolidated profit after tax stood at 244.23 Crores (previous year: 261.37 Crores).

2. DIVIDEND

Your Directors recommend final dividend of 1.25/- per equity share (i.e. 125%) of face value of 1/- each, for the financial year ended 31^st March, 2024, for approval of the Members at the ensuing Annual General Meeting. For this purpose Saturday, 20^th July, 2024. has been fixed as the Record Date for ascertaining entitlement for the payment of final dividend.

Members are requested to note that pursuant to the provisions of Finance Act, 2020, the Company would be required to deduct tax at source (TDS) at the prescribed rates.

In this regard, the Company will be sending an email communication to all the Shareholders whose email addresses are registered with the Company/Depositories and physical letters to other shareholders explaining the process on withholding tax from dividends paid to the shareholders at prescribed rates.

The board of directors of your Company has approved and adopted the dividend distribution policy and dividends declared/recommended during the year are in accordance with the said policy.

The dividend distribution policy is available on the weblink http://www.deltacorp.in/pdf/dividend-Distribution-Policy.pdf

3. SHARE CAPITAL

During the year, the issued, subscribed and paid– up capital of the Company has changed from 26,75,95,597/- divided into 26,75,95,597 equity shares of 1/- each to 26,77,71,097/- divided into 26,77,71,097 equity shares of 1/- each on account of allotment of equity shares under DELTACORP Employees Stock Option Scheme 2009 of the Company.

4. ANNUAL RETURN

Pursuant to Section 92(3) read with Section 134(3) (a) of the Companies Act, 2013 (the Act), the Annual Return as on 31^st March, 2024 is available on the Companys website at the link https://deltacorp.in/ pdf/annual-return/Annual-Return-2024.pdf

5. NUMBER OF MEETINGS OF THE BOARD

The Board met eight (8) times during the financial year 2023-24. The particulars of meetings held and attended by each Director are detailed in the Corporate Governance Report, which forms part of this Report.

6. DIRECTORS RESPONSIBILITY STATEMENT

Your Directors hereby confirm that:

i. in the preparation of the annual accounts for financial year ended 31^st March, 2024, the applicable accounting standards have been followed and there are no material departures;

ii. they had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period.

iii. they had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.

iv. they had prepared the annual accounts on a ‘going concern basis.

v. they had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and have been operating efficiently.

vi. they had devised proper systems to ensure compliance with provisions of all applicable laws and that such systems were adequate and operating effectively.

7. DECLARATION BY INDEPENDENT DIRECTORS

The Independent Directors of the Company have submitted the declaration of Independence as required under Section 149(7) of the Act and Regulation 25(8) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), confirming that they meet the criteria of independence under Section 149(6) of the Act and Regulation 16 (1)(b) of the Listing Regulations as amended from time to time. The Independent Directors have also confirmed that they have complied with the Companys Code of Business Conduct & Ethics.

In compliance with the rule 6(1) of the Companies (Appointment and Qualification of Directors) Rules, 2014, all the Independent Directors have registered themselves with the Indian Institute of Corporate Affairs.

8. POLICY ON DIRECTORS APPOINTMENT AND REMUNERATION

The policy of the Company on Directors appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a Director and other matters provided under subsection (3) of Section 178 of the Act and Regulation 19 of Listing Regulations is appended as Annexure I to this Report and is available on the companys website at https://deltacorp.in/pdf/Nomination-and-Renumeration-Policy.pdf

9. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE ACT

The Company falls within the scope of the definition of infrastructure company as provided under the Act read with Schedule VI. Accordingly, the Company is exempt from the provisions of Section 186 of the Act with regards to Loans, Guarantees and Investments.

10. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

During the financial year 2023-24, your Company has entered into transactions with related parties as defined under Section 2(76) of the Act and Rules made thereunder and Regulation 23 of the Listing Regulations. During the financial year 2023-24, the Company has not entered into transactions with related parties which qualify as material transactions as per the Listing Regulations. All transactions with related parties were reviewed and approved by the Audit Committee and were in compliance with the applicable provisions of the Act and the Listing Regulations.

The details of related party transactions as required under IND AS-24 are set out in notes to accounts to the standalone financial statements forming part of this Annual Report.

The policy on Related Party Transactions is available on the Companys website at: http://www.deltacorp. in/pdf/related-party-transaction-policy.pdf

There are no transactions to be reported in Form AOC-2.

11. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY

There are no material changes affecting the financial position of the Company subsequent to the close of financial year 2023-24 till the date of this report except as mentioned below:

Strategic Partnership with Peninsula Land Limited and Alpha Alternatives Fund Advisors LLP

The board of directors of the Company vide its resolution dated 08^th May, 2024 approved the execution of binding term sheet with Peninsula Land Limited ("PLL") and Alpha Alternatives Fund Advisors LLP through its affiliates (including Arsenio Strategies Private Limited)/ Funds managed by Alpha Alternatives Fund Advisors LLP (collectively referred to as "AA Group") for establishing a real estate development platform and investment of upto 90,00,00,000 (Rupees Ninety Crore) by the Company, in one or more tranches and in one or more entities (the "RE Platform") incorporated/ acquired pursuant to establishment of the real estate development platform established as a joint venture between the Company, PLL and AA Group. The RE Platform will be funded with an aggregate amount of 765,00,00,000 (Rupees Seven Hundred Sixty Five Crore), out of which AA Group, PLL and the Company propose to contribute up to an aggregate of 450,00,00,000 (Rupees Four Hundred Fifty Crore) (58.82%), 225,00,00,000 (Rupees Two Hundred Twenty Five Crore) (29.42%) and 90,00,00,000 (Rupees Ninety Crore) (11.76%), respectively, as and when required. Further the Company do not intend to pursue the joint venture earlier contemplated with PLL.

12. OTHER EVENTS TILL THE DATE OF THIS REPORT

a. GST Notice

The Company along with three subsidiary companies had received show cause notices from the Directorate General of Goods and Service Tax (GST) Intelligence for alleged short payment of GST aggregating 23,207.30 Crores for periods from 1^st July 2017 to 30^th November 2022.

The amounts claimed under the above notices are inter-alia based on the gross bet value/ face value of all games played at the casinos/ online platform and short payment of GST on consideration received towards entry to the casino/gross rake amount collected from online platform during the above-mentioned period. This matter has been an industry issue and multiple representations have been made by the industry participants to the Government in this regard. The Company / subsidiary company have filed Writ petitions and have obtained Stay order from respective High Courts.

Total demand from above matters on the Company aggregating to 11,767.81 Crores, has been disclosed as contingent liability based on managements assessment in accordance with external legal advice obtained by the management.

For further information, kindly refer Standalone Auditors Report of the Company.

b. SubscriptionofEquitySharesandUnsecured Compulsorily Convertible Debentures of Peninsula Land Limited

The board of directors of the Company vide its resolution dated 30^th November, 2023 approved the subscription of the following securities of Peninsula Land Limited:

(a) 1,50,00,000 (One Crores Fifty Lakh) equity shares of face value of 2/- (Rupees Two Only) per share at an issue price of 44/- (Rupees Forty Four Only) including a premium of 42/- (Rupees Forty Two Only), for an aggregate cash consideration of 66,00,00,000/- (Rupees Sixty Six Crores Only); and

(b) 77,27,000 (Seventy Seven Lakh Twenty Seven Thousand) 0% unsecured compulsory convertible debentures ("CCDs") of face value 44/- (Rupees Forty Four Only) each convertible into 1 (One) fully paid-up equity share of PLL having face value of 2/- (Rupees Two Only) on 16^th April, 2025, for an aggregate cash consideration of 33,99,88,000 (Rupees Thirty Three Crores Ninety Nine Lakh Eighty Eight Thousand Only).

c. Shifting of Corporate Office of the Company

The board of directors of the Company at its meeting held on 09^th January, 2024 have approved the shifting of corporate office of the Company from "Bayside Mall, 2^nd Floor, Tardeo Road, Haji Ali, Mumbai – 400 034" to "Delta House, Hornby Vellard Estate, Dr. Annie Besant Road, Next to Copper Chimney, Worli, Mumbai- 400 018".

d. Shifting of Registered Office of the Company

The board of directors of the Company at their meeting held on 08^th May, 2024 approved the shifting of registered office of the Company from the jurisdiction of Registrar of Companies, Pune to the jurisdiction of Registrar of Companies, Mumbai. The same is subject to necessary approvals of shareholders and regional director.

13. PARTICULARS REGARDING CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars in respect of conservation of energy, technology absorption and foreign exchange earnings and outgo, as required under Section 134(3)(m) of the Act read with the Companies (Accounts) Rules, 2014 is appended as Annexure II to this Report.

14. BUSINESS RISK MANAGEMENT

The board of directors of the Company has constituted a Risk Management Committee to frame, implement and monitor the risk management plan for the Company. The Company has a robust Risk Management framework to identify, evaluate business risks and opportunities. This framework seeks to create transparency, minimize adverse impact on the business objectives and enhance the Companys competitive advantage. The Composition of the Committee is in compliance with Regulation 21 of the Listing Regulations.

The business risk framework defines the risk identification and its management approach across the enterprise at various levels including documentation and reporting. The framework helps in identifying risks trend, exposure and potential impact analysis on a Companys business.

15. CORPORATE SOCIAL RESPONSIBILITY

The board of directors of the Company has constituted a Corporate Social Responsibility (CSR) Committee in accordance with Section 135 of the Act and rules framed thereunder. The brief outline of the CSR policy of the Company and the initiatives undertaken by the Company on CSR activities during the year under review are set out in Annexure III of this report in the format prescribed in the Companies (Corporate Social Responsibility Policy) Rules, 2014. The CSR policy is available on the Companys website at: https://deltacorp.in/ pdf/Corporate-Social-Responsibility-Policy-and-Composition2.pdf

16. VIGIL MECHANISM

The Company has adopted Vigil Mechanism and Whistle Blower Policy for Directors and Employees in compliance with the provisions of Section 177(10) of the Act and Regulation 22 of the Listing Regulations, to report genuine concerns and to provide for adequate safeguards against victimization of persons who may use such mechanism. During the year no personnel of the Company was denied access to the Audit Committee. The said policy is also available on the Companys website at https:// deltacorp.in/pdf/whistle-blower-policy.pdf

17. ANNUAL EVALUATION OF PERFORMANCE OF THE BOARD

Pursuant to the provisions of the Act and Regulation 19 of the Listing Regulations, the Board has carried out an annual evaluation of its own performance, performance of the Directors as well as the evaluation of the working of its Committees. The Nomination, Remuneration and Compensation Committee (NRC Committee) has defined the evaluation criteria for the Board, its Committees and Directors.

The Boards functioning was evaluated after taking inputs from the Directors on various aspects, including inter alia degree of fulfillment of key responsibilities, Board structure and composition, establishment and delineation of responsibilities to various Committees, effectiveness of Board processes, information and functioning.

The Committees of the Board were evaluated after taking inputs from the Committee members on the basis of criteria such as degree of fulfillment of key responsibilities, adequacy of Committee composition and effectiveness of meetings.

The Board reviewed the performance of the individual directors on aspects such as attendance and contribution at Board/Committee Meetings and guidance/support to the management outside Board/Committee Meetings. In addition, the Chairman was also evaluated on key aspects of his role, including setting the strategic agenda of the Board, encouraging active engagement by all Board members.

The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Director being evaluated. The performance evaluation of the Chairman and the Non-Independent Directors was carried out by the Independent Directors who also reviewed the performance of the Board as a whole.

In a separate meeting of independent directors, performance of Non-Independent Directors, performance of the board as a whole and performance of the Chairman was evaluated, taking into account the views of executive directors and non-executive directors.

18. SUBSIDIARY, JOINT VENTURE AND ASSOCIATE COMPANIES

During the year, the board of directors reviewed the affairs of the subsidiaries. In accordance with Section 129(3) of the Act and Listing Regulations, the Company has prepared consolidated financial statements of the Company and all its subsidiaries, which form part of the Annual Report. A statement containing the performance and financial position of the subsidiaries and associate companies of the Company as required under Rule 5 of the Companies (Accounts) Rules, 2014 is provided as Annexure-A (AOC-1) in the financial statement and hence not repeated here for the sake of brevity.

In accordance with Section 136 of the Act, the audited financial statements, including the consolidated financial statements and related information of the Company and audited accounts of each of its subsidiaries, are available on Companys website www.deltacorp.in. The policy for determining material subsidiaries is available on the Companys website at: http://www. deltacorp.in/pdf/policy-for-determining-material-subsidiaries.pdf During the year under review the Company incorporated Deltin Foundation, Section 8 Company as a Wholly Owned Subsidiary on 3^rd October, 2023. During the year, Caravella Entertainment Private Limited and its subsidiary Deltin Nepal Private Limited ceased to be subsidiaries of the company with effect from 20^th February, 2024.

The Company incorporated Delta Penland Private Limited as a Wholly Owned Subsidiary on 24^th April, 2024. Delta Offshore Developers Limited, Mauritius, ceased to be a subsidiary of the Company on account of liquidation.

19. DETAILS RELATING TO DEPOSITS, COVERED UNDER CHAPTER V OF THE ACT

The Company has neither accepted nor renewed any deposits during the financial year 2023-24 in terms of Chapter V of the Act.

20. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS AFFECTING THE GOING CONCERN STATUS OF THE COMPANY

There are no significant material orders passed by the Regulators/Courts which would impact the going concern status of the Company and its future operations.

21. INTERNAL CONTROL WITH REFERENCE TO FINANCIAL STATEMENTS

The Companys internal control systems are commensurate with the nature of its business and the size and complexity of its operations, and such internal financial controls with reference to the financial statements are adequate.

22. DIRECTORS AND KEY MANAGERIAL PERSONNEL The Board of Directors

InaccordancewiththeprovisionsoftheSection152(6) (e) of the Act, Mr. Ashish Kapadia, (DIN:02011632) will retire by rotation at the ensuing Annual General Meeting (AGM) and being eligible, offers himself for re-appointment.

In terms of the Listing Regulations, continuation of a Director on the board of directors of a listed entity as on 31^st March 2024, without the approval of the shareholders for the last five years or more shall be subject to the approval of shareholders in the first general meeting to be held after 31^st March 2024 and thereafter at least once in every five years. In the aforesaid context, approval of the Members is being sought for continuation of Mr. Jaydev Mody as Non-Independent Non-Executive Director and Chairman of the Company, liable to retire by rotation at the ensuing AGM.

The 2^nd term of Independent Directors Mrs. Alpana Chinai, Mr. Rajesh Jaggi and Mr. Ravinder Kumar Jain will expire on 27^th July, 2024. On recommendation of NRC Committee, the board of directors of the Company appointed Mr. Pankaj Razdan (DIN: 00061240) and Mrs. Tara Subramaniam (DIN: 07654007) as additional Independent Directors of the Company for the 1^st term of five years with effect from 9^th July, 2024 to 8^th July, 2029 subject to approval of members in accordance with the provisions of the Act and Rules made thereunder and the Listing Regulations. They shall hold the office as an Additional Director upto the date of the ensuing AGM. Necessary resolutions to this effect has been inserted in the AGM notice. Your Directors recommend the said resolutions.

Key Managerial Personnel

During the year Mr. Hardik Dhebar, ceased to be Chief Financial Officer of the Company with effect from 16^th August, 2023 on account of resignation. The Board placed on record its appreciation for the valuable services and guidance given by Mr. Hardik Dhebar during his tenure as Chief Financial Officer.

On recommendation of NRC Committee the board of directors appointed Mr. Anil Malani as President & Chief Financial Officer designated as Key Managerial Personnel of the Company with effect from 11^th October, 2023.

23. AUDITORS

1. Statutory Auditor

M/s. Walker Chandiok & Co. LLP, Chartered Accountants (Firm Registration No: 001076N/ N500013), were re-appointed as Statutory Auditors of the Company for second term at the 30^th AGM held on 20^th August, 2021 till the conclusion of the 35^th AGM to be held in the year 2026. There are no qualifications, reservations or adverse remarks or disclaimers made by Statutory Auditor of the Company, in the audit report.

2. Secretarial Auditor

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the board of directors of the Company have appointed M/s. A. K. Jain & Co., Company Secretaries in Practice to undertake the Secretarial Audit of the Company for the year ended 31^st March, 2024. The Secretarial Audit Report is appended as Annexure IV to this Report.

There are no qualifications, reservations or adverse remarks or disclaimers made by Secretarial Auditor of the Company, in the secretarial audit report.

As per the requirements of the Listing Regulations, Secretarial Auditors of the unlisted material subsidiaries of the Company have undertaken secretarial audit of such subsidiaries for financial year ended 31^st March, 2024. The Secretarial Audit Reports of such unlisted material subsidiaries viz. Deltatech Gaming Limited and Highstreet Cruises and Entertainment Private Limited is appended as Annexure V & VI and available on Companys website at: https://deltacorp.in/material-subsidiaries-financial-year-2023-24.html

24. REPORTING OF FRAUDS

There was no instance of fraud during the year under review, which required the Statutory Auditors to report to the Audit Committee and/or Board under Section 143(12) of Act and Rules framed thereunder.

25. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As per Regulation 34(2) read with Schedule V of the Listing Regulations, Management Discussion and Analysis Report is provided in a separate section and forms an integral part of this Annual Report.

26. BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT (BRSR)

The Company endeavors to cater to the needs of the communities it operates in thereby creating maximum value for the society along with conducting its business in a way that creates a positive impact and enhances stakeholder value. As per Regulation 34(2)(f) of the Listing Regulations, the BRSR depicting initiatives taken by the Company from an environmental, social and governance perspective forms part of this Annual Report.

27. CORPORATE GOVERNANCE

As per Regulation 34(3) read with Schedule V of the Listing Regulations, a separate section on corporate governance practices followed by the Company, together with a certificate from the Practicing Company Secretary confirming compliance with the conditions of Corporate Governance forms an integral part of this Annual Report.

28. AUDIT COMMITTEE OF THE COMPANY

The composition of the Audit Committee is in compliance with the requirements of Section 177 of the Act, Regulation 18 of the Listing Regulations as amended from time to time and guidance note issued by Stock Exchanges. The details of the composition of the Audit Committee are detailed in the Corporate Governance Report, which forms part of this Annual Report.

29. PARTICULARS OF EMPLOYEES

Details of top ten employees in terms of the remuneration and employees in receipt of remuneration as required under the provisions of Section 197(12) of the Act, read with rule 5(2) and 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, which form part of the Directors Report, will be made available to any shareholder on request, as per provisions of Section 136 of the said Act. Members who are interested in obtaining these particulars may write email to the Company Secretary on secretarial@ deltin.com.

The disclosures in terms of the provisions of Section 197(12) of the Act, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided in Annexure VII to this Report.

30. EMPLOYEES STOCK OPTION SCHEME AND EMPLOYEES STOCK APPRECIATION RIGHTS PLAN

As required in terms of regulation 14 of the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and in terms of Rule 12 of Companies (Share Capital and Debentures) Rules, 2014, the disclosures relating to DELTA CORP ESOS 2009 and Delta Employees Stock Appreciation Rights Plan 2019 are given in Annexure VIII to this Report.

31. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013.

The Company has complied with the provisions relating to constitution of Internal Complaints Committee and has Anti-Sexual Harassment policy pursuant to the provisions of The Sexual Harassment of Woman at Workplace (Prevention, Prohibition & Redressal) Act, 2013. The Company has received three complaints and no complaints are pending as on 31^st March, 2024.

32. COMPLIANCE OF THE SECRETARIAL STANDARDS

During the financial year, the Company has complied with the applicable Secretarial Standards i.e. SS-1 and SS-2 as issued by the Institute of the Company Secretaries of India.

33. DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONG WITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR

There are no applications made or any proceeding pending against the Company under Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the financial year.

34. COST RECORDS AND COST AUDIT

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148(1) of the Act and rules made thereunder are not applicable for the business activities carried out by the Company.

35. DETAILS OF DIFFERENCE BETWEEN AMOUNT OF THE VALUATION DONE AT THE TIME OF ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING LOAN FROM THE BANKS OR FINANCIAL INSTITUTIONS ALONG WITH THE REASONS THEREOF

There are no instances of one time settlement during the financial year.

36. TRANSFER OF UNCLAIMED/ UNPAID AMOUNTS AND SHARES TO THE INVESTOR EDUCATION AND PROTECTION FUND

In accordance with the provisions of the Section 124 and 125 of the Act, read with Investor Education Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended (IEPF Rules), the dividends, unclaimed for a period of seven years from the date of transfer to the Unpaid Dividend Account of the Company are liable to be transferred to the IEPF.

The IEPF Rules mandate Companies to transfer shares of Members whose dividends remain unpaid/ unclaimed for a continuous period of seven years to the demat account of IEPF Authority. The Members whose dividend/shares are transferred to the IEPF Authority can claim their shares/dividend from the Authority. In accordance with the said IEPF Rules and its amendments, the Company had sent notices to all the Shareholders whose shares were due to be transferred to the IEPF Authority and simultaneously published newspaper advertisement.

The Company has appointed a Nodal Officer under the provisions of IEPF the details of which are available on the website of the Company at www. deltacorp.in.

The Company has uploaded the details of unpaid and unclaimed amounts lying with the Company on the Companys website at www.deltacorp.in.

37. ACKNOWLEDGEMENTS

Your Directors express their sincere appreciation for the co-operation received from shareholders, bankers and other business constituents during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff, for better performance of the Company during the year.

For and on behalf of the Board of Directors

Jaydev Mody

Chairman

DIN: 00234797

Place: Mumbai

Date: 9th July, 2024