Thomas Cook (India) Limited has received contrasting orders from tax authorities, with one providing relief while another confirms significant GST demands. The travel services company informed stock exchanges about these developments on March 18, 2026, under Regulation 30 of SEBI Listing Regulations.

Mumbai Authority Drops Penalty

The Deputy Commissioner, Division III, Mumbai Central, Maharashtra issued a rectification order dropping a penalty that had been imposed on the company. The order provided complete relief from the penalty amount.

Chennai Authority Confirms GST Demand

In contrast to the Mumbai relief, the Commercial Tax Officer, Chennai Central, Tamil Nadu confirmed a substantial GST demand against the company. The order encompasses multiple components including the original short payment, applicable interest, and penalties.

The penalty has been imposed under Section 74 of CGST Act 2017, while the interest component falls under Section 50 of the same Act.

Company Response and Impact Assessment

Thomas Cook India has indicated that it is evaluating the necessary steps regarding the Chennai order. The company has assessed that despite the significant monetary amount involved, there is no material financial or operational impact on the entity.

Both orders were received on March 18, 2026, and the company has fulfilled its disclosure obligations by informing BSE and NSE under the SEBI Master Circular requirements. The intimation has also been uploaded on the company's website for stakeholder access.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. This demonstrates the company's commitment to maintaining transparency with regulatory authorities and stakeholders regarding material developments.

Thomas Cook (India) Limited has announced a board meeting scheduled for March 20, 2026, to consider a significant corporate restructuring proposal. The company informed stock exchanges about the upcoming meeting through an official communication dated March 17, 2026.

Board Meeting Details

The Board of Directors will convene on Friday, March 20, 2026, with the primary agenda being the consideration and approval of a corporate restructuring proposal. The meeting aims to streamline the existing capital structure of Thomas Cook (India) Limited.

Trading Window Closure

In accordance with the company's policy on Prevention of Insider Trading, Thomas Cook (India) Limited has implemented a trading window closure for designated persons and their immediate relatives. The trading restrictions are effective from March 18, 2026, and will continue until March 22, 2026, both days inclusive.

Regulatory Compliance

The announcement was made in compliance with Regulation 29 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company submitted the information to both major stock exchanges where its shares are listed.

The communication was signed by Amit J. Parekh, Company Secretary and Compliance Officer, and sent to the listing departments of both BSE Limited and National Stock Exchange of India Limited. The company maintains its registered and corporate office at 11th Floor, Marathon Futurex, N. M. Joshi Marg, Lower Parel (East), Mumbai.