Thomas Cook (India) Limited has disclosed receiving a regulatory order from tax authorities regarding Goods and Services Tax (GST) compliance. The travel and tourism services company informed stock exchanges about this development in accordance with regulatory disclosure requirements.

Regulatory Order Details

The Commercial Tax Officer, Chennai Central, Tamil Nadu issued the order imposing a GST demand of ₹27.33 lakh, interest of ₹18.09 lakh, and a penalty of ₹2.73 lakh under the Central Goods and Services Tax Act 2017.

Company's Response and Assessment

Thomas Cook India stated it is currently evaluating the necessary steps ahead with regard to the partial amount upheld by the authority. The company has assessed the situation and determined that there is no material financial or operational impact on the entity despite the monetary obligations imposed.

The penalty of ₹2.73 lakh has been levied under Section 73 of the CGST Act 2017, which deals with determination of tax not paid or short paid or erroneously refunded or input tax credit wrongly availed or utilized.

Regulatory Compliance and Disclosure

This intimation was made under 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 company has uploaded this intimation on its official website at https://www.thomascook.in/stock-exchange-intimation for public access and transparency. Thomas Cook India operates across multiple business segments including holidays, foreign exchange, business travel, MICE (Meetings, Incentives, Conferences, and Exhibitions), value-added services, and visa services.

Thomas Cook (India) Limited has announced the completion of tenure for two independent directors, marking the end of their second consecutive five-year terms. The company filed this disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on December 23, 2025.

Director Cessation Details

Two senior independent directors concluded their association with the company effective December 22, 2025:

Regulatory Compliance Framework

The cessation follows the completion of their respective second terms of five consecutive years as Independent Directors of the company. According to regulatory requirements, independent directors can serve a maximum of two consecutive terms, making their departure a natural conclusion of their tenure rather than a resignation or removal.

The company filed the necessary disclosures with both BSE Limited (Scrip Code: 500413) and National Stock Exchange of India Limited (Scrip Code: THOMASCOOK) as required under SEBI regulations. The filing was made pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Filing Details and Documentation

The regulatory filing included comprehensive annexures detailing the cessation information for both directors:

Board Acknowledgment

The Board of Directors and Management of Thomas Cook (India) Limited formally acknowledged the contributions of both departing directors. The company placed on record their appreciation for the valuable contributions and guidance provided by Mr. Nilesh Shivji Vikamsey and Mr. Sunil Behari Mathur during their association with the company.

Corporate Governance Impact

The departure of these two independent directors represents a significant change in the company's board composition. Independent directors play a crucial role in corporate governance, providing oversight and strategic guidance while maintaining independence from the company's management and operations. The company secretary and compliance officer, Amit J. Parekh, signed the regulatory filing, ensuring compliance with all disclosure requirements.