Thomas Cook (India) Limited announced that its Board of Directors approved the conversion of an inter-company loan into Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS) in its subsidiary, Thomas Cook Lanka (Private) Limited. Additionally, the Board approved the appointment of two key executives, Mr. Deepesh Varma and Ms. Deepti Sheth, as Senior Management Personnel (SMPs), effective April 1, 2026. Profiles for both appointees are provided in accompanying annexures.
Major Corporate Decisions Approved
The Board of Directors of Thomas Cook (India) Limited met on March 20, 2026, to consider and approve several key corporate actions. The meeting commenced at 3:45 P.M. (IST) and concluded at 6:00 P.M. (IST).
Conversion of Inter-Company Loan
The Board granted in-principle approval for a significant structural change involving its Non-Material Wholly Owned Subsidiary, Thomas Cook Lanka (Private) Limited. The inter-company loan previously extended to the subsidiary will be converted into Optionally Convertible Cumulative Redeemable Preference Shares (OCCRPS). Powers to finalize this conversion in one or more tranches have been delegated to the Sub-Committee.
Appointment of Senior Management Personnel (SMPs)
The Board approved two significant appointments, designating both individuals as Senior Management Personnel (SMP) of the Company, effective April 1, 2026.
1. Mr. Deepesh Varma
Mr. Deepesh Varma has been appointed as the Chief Business Officer – Foreign Exchange. He brings over 26 years of experience, having been part of the Thomas Cook organization for more than 13 years, joining the core business on March 4, 2013.
2. Ms. Deepti Sheth
Ms. Deepti Sheth has been appointed as the President and Group Head – Human Resources. Ms. Sheth has been associated with the organization for over 11 years and holds over 20 years of total experience in Human Resource Management.
Brief profiles detailing the qualifications and professional histories of both Mr. Varma (Annexure A) and Ms. Sheth (Annexure B) were attached to the disclosure for regulatory compliance.
Source: BSE
