Thomas Cook (India) Limited has received a regulatory order from the Reserve Bank of India (RBI) imposing a penalty of ₹1,79,000 for violations related to money changing activities. The company informed stock exchanges about this development on December 18, 2025, in compliance with regulatory disclosure requirements.

Regulatory Order Details

The penalty order was received from the RBI on December 17, 2025, after business hours. The regulatory action pertains to contravention of specific provisions governing money changing operations.

Nature of Violation

The penalty was imposed for contravention of condition (iv) of Paragraph 5 of Section V of Master Direction on Money Changing Activities. This master direction was originally issued vide Circular FED Master Direction No. 3/2015-16 dated January 16, 2016, and was last updated on May 29, 2024.

Company Response and Impact Assessment

Thomas Cook India has assessed the financial and operational implications of this regulatory action. The company has stated that there is no material financial or operational impact on the entity from this penalty. Additionally, the company has confirmed that corrective action has already been undertaken to address the regulatory concerns that led to this penalty.

Regulatory Compliance

This disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Para A of Part A of Schedule III of the Listing Regulations. The intimation also complies with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which governs disclosure requirements for regulatory actions.

Corporate Communication

The company has uploaded this intimation on its official website at https://www.thomascook.in/stock-exchange-intimation for public access. The disclosure was signed by Amit J. Parekh, Company Secretary and Compliance Officer, ensuring proper corporate governance protocols were followed in communicating this regulatory development to stakeholders.

Thomas Cook (India) Limited has inaugurated its third outlet in Indore, Madhya Pradesh, marking a significant expansion in the high-potential market. This new facility brings the company's total network to three locations in Indore and five across the entire state, reflecting its strategic commitment to capitalize on the strong and growing travel demand from the region.

Strategic Expansion Details

The outlet inauguration was conducted by distinguished guests including Dr. Upinder Dhar, Former Vice Chancellor of Shri Vaishnav Vidyapeeth University, Mr. Pawan Bhalika, Vice President of Maheshwari Samaj Indore, and Mr. Romil Pant, Executive Vice President Head-Holidays at Thomas Cook India Limited.

Service Offerings and Target Segments

The new Thomas Cook outlet will cater to travellers from Indore and neighbouring regions across diverse customer segments including families, couples, Young India's millennials and Gen Z, business travellers, and Gen S (seniors). The facility offers comprehensive end-to-end travel services encompassing international and domestic holidays, group tours, personalised holidays, cruises, and value-added services like travel insurance.

Additionally, Thomas Cook's AI booking platform assists customers in planning their personalised vacations in real time by checking availability and making reservations within minutes.

Regional Travel Trends and Preferences

The company has identified specific travel patterns emerging from the Indore and Madhya Pradesh market:

Popular Destinations

International Destinations:

• Japan, South Korea
• European countries: Switzerland, France, Spain-Portugal, Scandinavia
• Australia, New Zealand
• Southeast Asia: Thailand, Indonesia, Malaysia
• Middle East: Dubai, Abu Dhabi

Domestic and Subcontinent Destinations:

• Himachal Pradesh, Uttarakhand, Andamans, North East, Kerala
• Bhutan

Travel Duration Trends

Emerging Travel Preferences

• Pilgrimage/Spiritual Tourism: Char Dham, Ayodhya-Prayagraj, aerial darshans to Om Parvat-Dev Bhoomi
• New Destinations: Georgia, Uzbekistan, Kazakhstan, Vietnam, Morocco, South Africa, and Kenya
• Top Traveller Segments: Multi-generational families, couples, Young India's millennials and Gen Z, Gen S (seniors)

Management Commentary

Mr. Rajeev Kale, President & Country Head-Holidays, MICE, Visa at Thomas Cook (India) Limited, emphasised the importance of the Indore market: "Indore is an important market for us at Thomas Cook India, with significant growth in travel aspirations across diverse customer segments. The launch of our third outlet in the city reaffirms our strong commitment to our customers from the city and surrounding catchments."

He further highlighted the outlet's strategic positioning: "In addition to its prime location, the outlet is designed to offer exceptional holiday services. On behalf of my team, I extend a warm welcome to our customers from Jayanagar. My team and I look forward to co-curating memorable holidays for each of our customers - for destinations within India and international."

Company Background

Established in 1881, Thomas Cook (India) Limited operates as the leading omnichannel travel company in the country, offering services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, Value Added Services, and Visa Services. The company operates multiple B2C and B2B brands and spans 28 countries across 5 continents as one of the largest travel service provider networks headquartered in the Asia-Pacific region.