Thomas Cook (India) has entered into and executed a Business Transfer Agreement (BTA) with Nature Trails Resorts (NTRPL), a step-down wholly owned subsidiary of the Company, to purchase the hotel business of NTRPL for an agreed consideration of Rs 52.25 crore on a going concern basis through a slump sale as defined u/s. 2(42C) of the Income Tax Act, 1961. The completion of the slump sale shall be subject to fulfilment of conditions precedent and on such other terms and conditions as more particularly mentioned under the BTA.
The Company through its existing business activities has developed a wide range of customer base, majority of them being the younger generation. NTRPL is well known for its offerings to schools, corporates and families for over two decades now. Accordingly, the company proposes to leverage on its customer base and integrate its domestic portfolio through the purchase of the hotel business of NTRPL.
Thomas Cook (India) (TCIL) is the leading omnichannel travel company in the country offering a broad spectrum of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services and Visa Services.
