Thomas Cook (India) Limited announced that its subsidiary, Sterling Holiday Resorts Limited, has approved a Composite Scheme of Arrangement. The plan involves the demerger and transfer of assets and liabilities between Thomas Cook, Sterling Holiday Resorts, and three other subsidiary entities: TC Visa Services, Jardin Travel Solutions, and Borderless Travel Services. This corporate restructuring was approved by the Board of Directors on March 20, 2026, to streamline operations and comply with listing requirements.
Key Corporate Restructuring Approved
Thomas Cook (India) Limited has informed stock exchanges regarding a significant corporate action involving its Wholly Owned Material Subsidiary, Sterling Holiday Resorts Limited. On March 20, 2026, the Board of Directors of Sterling Holiday Resorts approved a Composite Scheme of Arrangement.
Parties Involved in the Scheme
The approved scheme outlines a detailed arrangement among several entities, primarily focusing on consolidation and operational streamlining. The principal parties involved in the proposed arrangement are:
- Thomas Cook (India) Limited (designated as the “Demerged company” or “Transferee company”).
- Sterling Holiday Resorts Limited (designated as the “Resulting company”).
- TC Visa Services (India) Limited (designated as “Transferor company 1”).
- Jardin Travel Solutions Limited (designated as “Transferor company 2”).
- Borderless Travel Services Limited (designated as “Transferor company 3”).
- Their respective shareholders.
Compliance and Next Steps
The company indicated that this scheme of arrangement is being undertaken to ensure compliance with applicable Listing Regulations. The filing serves as the required disclosure under Regulation 30(9) of the SEBI Listing Regulations. Further steps related to the implementation of this scheme will be subject to necessary regulatory and shareholder approvals.
Source: BSE
