Thomas Cook (India) Limited (TCIL) has executed a Supplemental Agreement with Atirath Technologies Private Limited to further invest in their Joint Venture (JV), Indian Horizon Marketing Services Limited. The primary objective is the co-development of a cutting-edge Travel AI Platform. TCIL confirms that its 50% shareholding in the JV Co. remains unchanged following this strategic infusion, emphasizing continued equal partnership and decision-making authority.
Expansion of Strategic Joint Venture
Thomas Cook (India) Limited (TCIL) announced on March 24, 2026, the execution of a Supplemental Agreement related to its Share Subscription cum Joint Venture (JV) pact. This agreement continues the growth strategy initiated with the original agreement dated September 30, 2024.
Co-Development of Travel AI Platform
The primary purpose of this supplemental commitment is to secure additional subscription funds necessary for the co-development of the Travel AI Platform. This platform is designed to utilize Artificial Intelligence (AI) to develop a suite of proprietary intellectual property, which is expected to significantly assist the entire Thomas Cook Group.
JV Structure and Partnership Details
The JV operates within the Indian markets. Key terms confirmed regarding the shareholding and governance structure are:
- TCIL will maintain its holding of 50% in Indian Horizon Marketing Services Limited (JV Co.), with Atirath retaining the remaining 50%.
- The JV partners will continue to have equal participation, including equal representation on the Board of Directors, ensuring shared decision-making power in operations.
- The Authorized Capital of the JV Co. stands at INR 9.96 crores.
- The transaction is classified as a related party transaction but is confirmed to be executed at an “arm’s length” basis.
Details regarding the specific consideration paid or received under the Supplemental Agreement will be provided once the investment tranche is officially made.
Source: BSE
