Thomas Cook India Issues THB 53M Corporate Guarantee for Subsidiary
Thomas Cook (India) Ltd has announced the issuance of a Corporate Guarantee (CG) to Deutsche Bank AG on behalf of its subsidiary, Asian Trails Limited (Thailand). The Sub Committee of the Board of Directors approved the renewal of an existing CG amounting to THB 53 Million. This guarantee is crucial for Asian Trails Limited to secure a credit facility from Deutsche Bank AG, Thailand, enabling smooth business operations. The renewal is expected to benefit the parent company, Thomas Cook (India) Ltd, which will charge a commission on an arm's length basis. The company has confirmed that its promoters, promoter group, or group companies have no interest in this transaction, and Asian Trails Limited is a wholly-owned subsidiary.
Key Highlights
- Thomas Cook India renews THB 53 Million Corporate Guarantee for subsidiary.
- Guarantee supports credit facility for Asian Trails Limited (Thailand).
- Transaction is at arm's length; no promoter interest involved.
- Renewal expected to benefit parent company through commission.
- Filing made under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Price Impact
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