Oberoi Realty, along with consortium partners, has secured an extension from the National Company Law Tribunal (NCLT) to complete payment obligations in the acquisition of Hotel Horizon under the Insolvency and Bankruptcy Code. The deadline has now been extended up to May 7, 2026.
Thomas Cook India has informed the exchanges that its wholly owned subsidiary, Sterling Holiday Resorts Limited, has approved a Composite Scheme of Arrangement involving multiple group entities. The move reflects a strategic consolidation aimed at simplifying the corporate structure and enhancing focus on core businesses.
Corporate Restructuring At A Glance
The Board of Sterling Holiday Resorts approved the scheme on March 20, 2026. The arrangement involves Thomas Cook (India) Limited, Sterling Holiday Resorts, TC Visa Services, Jardin Travel Solutions, and Borderless Travel Services, along with their shareholders.
Consolidation Of Shares
Thomas Cook India will consolidate four existing equity shares into one, a move designed to improve capital efficiency and strengthen the company’s balance sheet.
Demerger Into Sterling Holiday Resorts
The resorts and resort management business will be demerged into Sterling Holiday Resorts, enabling sharper focus on hospitality operations while Thomas Cook India continues to drive growth in travel, foreign exchange, and related services.
Key Highlights
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Consolidation of four equity shares of TCIL into one
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Demerger of resorts and resort management business into Sterling Holiday Resorts
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Composite Scheme of Arrangement approved by Sterling Holiday Resorts’ Board
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Involvement of multiple group entities and shareholders
Sources: Company filing with BSE and NSE