Thomas Cook (India) Limited has received an observation letter from BSE Limited, dated August 31, 2026, confirming ‘no adverse observations’ regarding its Composite Scheme of Arrangement. This development is a significant step in the proposed restructuring, involving multiple entities including Sterling Holiday Resorts Limited. The company has also uploaded the observation letter on its website for public access.
BSE Issues Key Approval for Scheme of Arrangement
Thomas Cook (India) Limited announced today that it has received a crucial ‘no adverse observations’ letter from the BSE Limited (BSE) for its proposed Composite Scheme of Arrangement. The letter, dated August 31, 2026, signifies a positive step forward in the company’s ongoing corporate restructuring plans.
Details of the Scheme and BSE’s Letter
The Composite Scheme of Arrangement involves Thomas Cook (India) Limited (Demerged Company/Transferee Company), Sterling Holiday Resorts Limited (Resulting Company), and several transferor companies: TC Visa Services (India) Limited, Jardin Travel Solutions Limited, and Borderless Travel Services Limited. The scheme is being executed under various sections of the Companies Act, 2013, and associated rules.
The observation letter from BSE confirms that, in terms of Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the exchange has no adverse comments on the proposed arrangement. This is a prerequisite for the company to proceed with further regulatory filings.
Company’s Next Steps and Public Disclosure
Thomas Cook (India) Limited has made the observation letter from BSE publicly available. A copy of the letter has been enclosed with this announcement and is also accessible on the company’s official website at thomascook.in/composite-scheme. This disclosure ensures transparency with shareholders and stakeholders regarding the progress of the scheme.
The company previously informed stakeholders about the Board of Directors’ approval of the Composite Scheme of Arrangement, subject to necessary regulatory approvals. This ‘no adverse observation’ letter from BSE is a significant milestone in that approval process. The company continues to work towards the successful completion of this arrangement.
Source: BSE
