(3 minutes read)
· Jalesh Cruises Mauritius Limited (“JCML”) has passed a board resolution approving the appointment of an administrator since it is unable to meet its financial commitments
· Importantly, Deltin Cruises and Entertainment Private Limited (“DCEPL”) (a subsidiary of Delta Corp Limited ) holds approx. 25.75 % stake in Jalesh Cruises
· JCML promoted by Amit Goenka was incorporated on 16 December 2011 under the laws of Mauritius to undertake investment business.
· Delta Corp’s wholly owned subsidiary, Gaussian Software, has entered into an agreement on 8 March 2019 to subscribe 10,000,000 equity shares of Jalesh Cruises Mauritius (JCML) for US$10 million
Jalesh Cruises Mauritius Limited (“JCML”) has passed a board resolution approving the appointment of an administrator since it is unable to meet its financial commitments. Importantly, Deltin Cruises and Entertainment Private Limited (“DCEPL”) (a subsidiary of Delta Corp Limited ) holds approx. 25.75 % stake in Jalesh Cruises.
There are high levels of uncertainties with respect to cruise business across the globe. This had further accentuated during the global lock down since cruise tourism has come to halt due to fear of pandemic. This had affected the financial position of JCML and had forced the company to write down the value of investment by DCEPL in JCML as reflected in the audited financial statements of the company for the quarter ended on March 31, 2020.
JCML promoted by Amit Goenka was incorporated on 16 December 2011 under the laws of Mauritius to undertake investment business. Delta Corp wholly owned subsidiary, Gaussian Software, has entered into an agreement on 8 March 2019 to subscribe 10,000,000 equity shares of Jalesh Cruises Mauritius (JCML) for US$10 million. The acquisition was completed in one or more tranches and the company is expected to hold
over 25% stakes in JCML.
