Thomas Cook (India) Limited Receives Order from Appellate Tribunal Under SAFEMA
Thomas Cook (India) Limited announced that it has received an order from the Appellate Tribunal Under SAFEMA at New Delhi regarding appeals filed by the company and its officers.The Tribunal partially allowed the appeals, significantly reducing the aggregate penalties. The initial penalties were reduced from Rs. 61.6 million down to Rs. 39.96 million, this reduction excludes an earlier deposited aggregate amount of Rs. 12.3 million.
The order was received by the company on May 11, 2026. The proceedings related to violations concerning Section 10 (4) & 10 (5) and Section 3 (a) of the Foreign Exchange Management Act, 1999 (FEMA).
In terms of operational impact, Thomas Cook (India) Limited stated that the company believes there is no material impact on its financials, operations, or other activities due to the said order. The company is reportedly reviewing the order in detail to determine and implement the appropriate course of action.
A summary of the key details from the order and development update is presented below:
| Particulars | Details |
|---|---|
| Authority | Appellate Tribunal Under SAFEMA at New Delhi |
| Nature of Action | Partial allowance of appeals, reducing aggregate penalties from Rs. 61.6 million to Rs. 39.96 million. |
| Exclusion | Rs. 12.3 million (earlier deposited aggregate amount) |
| Legal Violations | Section 10 (4) & 10 (5) and Section 3 (a) of the Foreign Exchange Management Act, 1999 (FEMA) |
| Financial Impact | No material impact on financials, operations, or other activities. |
| Date of Order Receipt | May 11, 2026 |
THOMASCOOK Stock Price Movement
Thomas Cook (India) Limited shares today slipped by 4.40% to settle at ₹92.95. The stock saw a notable decline, closing amidst a total traded volume of 1.45 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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