MCA officials met with key management personnel during its physical inspection at the company's registered office Mumbai on September 30.
“Delhi’s RoC, which has been probing Aarush Forex Pvt for a while now, unearthed some suspicious transactions in its books and came across several companies, including Thomas Cook,” a source said.
The group, which has around 600 stores across the UK, has also come under pressure from fierce online competition.
The company's consolidated income from operations stood at Rs 1,363.28 crore for the quarter. It was Rs 2,572.29 crore for the corresponding period a year ago.
The acquisition marks the group's entry into an adjacent sector, complementary to its travel and travel-related services portfolio, Thomas Cook India said in a statement.
The company had posted a net profit of Rs 60.46 crore for the same period of the previous fiscal, Thomas Cook India said in a filing to BSE.
The company has accordingly obtained ARC (Airlines Reporting Corporation) accreditation and necessary operating licences via its destination management brand Allied TPro, Thomas Cook India said in a filing to BSE.
In similar vein, Thomas Cook India President & Country Head - Holidays, MICE, Visa & Passport Services Rajeev Kale said the rupee depreciation has had no adverse impact on the company's outbound bookings.
Thomas Cook (India) has reported a consolidated total income from operations of Rs 2,084.52 crore and a net profit of Rs 70.57 crore for the quarter ended Jun-2018
Total income from operations of the company stood at Rs 2,100.41 crore for the quarter under consideration. It was Rs 2,894.42 crore for the same period year ago.
As a part of the pact, both parties will focus on a programme that includes product development and destination promotions to showcase Seoul as a vibrant leisure destination across various Indian traveller segments including, families, millennials, honeymooners, culture seekers and women travellers among others, Thomas Cook India said in a statement.
Sharekhan recommended hold rating on Thomas Cook India with a target price of Rs 298 in its research report dated April 24, 2018.
"MACD has given a positive crossover with its average above neutral level of zero suggesting a change of trend from the current sideways pattern to upside. Thus, the stock can be bought at current level and on dips to Rs 280 with a stop loss below Rs 270 for target of Rs 320," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
"The index has resistance zone at 10,630-10,700 levels. In Nifty options, strike price 10,700 Call has the highest open interest (OI) in Calls, suggesting market could head towards 10,700 levels but likely to face resistance this level," says Ashish Chaturmohta, Head Technical and Derivatives at Sanctum Wealth Management.
The company had reported net profit of Rs 4.64 crore in the same period last fiscal year.
They would be redeemed out of the profits of the company, Thomas Cook India said in a BSE filing.
Thomas Cook will sell 5.42 percent stake in their subsidiary Quess Corp via Rs 600 crore offer for sale. This will bring the promoter holding in Quess Corp down to 75.38 percent from 81.52 percent.
The company said the move is to meet Sebi regulations that require promoters to bring down their stake to 75 percent.
On the downside 9750-9700 should act as a strong support area. Overall, data has turned slightly positive post expiry and further up move can be seen towards 10,000 levels.