Thomas Cook (India) Ltd expects the proposed demerger of its resorts and resort-management business into Sterling Holiday Resorts to become effective by October 2027, according to a top company official.
In an interview with PTI, Mahesh Iyer, Managing Director and CEO of Thomas Cook (India) Ltd, said the company expects the scheme to become effective by mid-FY28.
"The application in respect of the composite scheme of arrangement has been filed before NCLT Mumbai. Accordingly, we expect the scheme to become effective by mid of FY28. However, the same is subject to the requisite regulatory and shareholder approvals," Iyer shared.
In March, the Board of Thomas Cook (India) Ltd (TCIL) approved a proposal for the demerger of the company's Resorts and Resort Management business into Sterling Holiday Resorts Ltd (SHRL) and a subsequent capital restructuring of TCIL.
Separately, on the company's inorganic growth strategy, Iyer said, Thomas Cook India remained open to exploring acquisitions and strategic partnerships that could strengthen its capabilities and accelerate growth across its businesses.