Cox & Kings is currently going through the corporate insolvency resolution process. Around 2,500 operational creditors have submitted claims of over Rs 631 crore, 2,440 employees and workman have claimed dues of over Rs 94 crore and other creditors have submitted claims of over Rs 3 crore.
Cox & Kings had a total debt of Rs 3,238 crore at end of FY19 and this included both short-term and long-term loans.
Many travellers are now opting for domestic destinations like Goa, Kerala, Rajasthan, Lakshadweep, Himachal Pradesh, and the North East.
The two companies signed an agreement today. Holidaybreak's shareholders will get 432.1 pence per share in cash, a premium of 35.5 per cent to the closing price of the company's shares on July 22.
Cox & Kings Global Services (formerly known as Quoprro Global Services) was incorporated in 2008.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
After its forays into e-ticketing and hospitality, the Indian Railway Catering and Tourism Corporation has tied up with travel major Cox & Kings for offering tour packages
Even as the outbound tourism sector is feeling slowdown jitters, cruise tourism is becoming popular with Indians. Bookings for April went by 20 per cent.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
Travel companies Cox & Kings and Thomas Cook explore initiatives aimed at tapping the niche market of travel packages for kids and the disabled.
Indian tourists are increasingly settling for other destinations such as Southeast Asian countries, Australia, and New Zealand.
Babymoons are no longer just popular with celebs, reveals this study.
Among other major companies, Cox & Kings made a total investment of $39.95 million in four different WOS situated in Hong Kong, Singapore and the UK.
Smart marketing and better-planned infrastructure could be the reason tourists are hot-footing it to south India.
One million more go globe trotting in 2008-09.
Now, specially designed travel packages for those heading for trade fairs.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
The US has already eased the procedure for issuing visa to attract a million Indian tourists by 2015
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
The hospitality sector has been hit very hard by the pandemic. In the past 18 months, it has lost business, first because of the harsh lockdowns and after that because of lack of demand due to the ensuing economic slowdown. Most hospitality businesses have sustained low revenues and losses since April 2020. Is this the classic case of a beaten-down cyclical sector that may be close to bottoming out?
In 2015, 130,000 Indians visited Turkey.
Companies with contrasting financial ratios enjoy similar credit ratings; agencies say they look at many other metrics.
Tourist arrival growth down to 1.9% over poor marketing and terror threats. Airlines, too, have been forced to reroute following airspace closure. UK and Australia advised their citizens from travelling to Srinagar following the Pulwama attack.
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