Thomas Cook tanks 8% amid reports of suspicious transactions

NEW DELHI: The shares of Thomas Cook (India) slipped for the second day in a row in Tuesday's session amid a news portal suggested that the travel company is under the scanner of Ministry of Corporate Affairs. The company denied the report and called its content as factually incorrect and malicious in intent.

An article published in moneycontrol.com suggested that MCA is probing Thomas Cook (India) in relation to a ‘suspicious’ money transaction with a Delhi-based forex trader. The ministry’s Western Regional Director has commenced inspection of the world's oldest travel firm, the report added.

The firm in a BSE filing said it has received no intimation from the MCA and have no existing relationship with Aarush Forex Private Limited.


"Both the headline and contents of the article are factually incorrect and malicious in intent," it further added.

The shares of the company closed 2.60 per cent lower at Rs 149.65 on BSE. It fell 2.6 per cent in the previous day.

Shares of Quess Corp, which is a step-down subsidiary of Thomas Cook India, also declined 3.63 per cent on BSE.