Thomas Cook India resorted to a communication blitz in the past few days to clarify that the collapsed UK firm exited the Indian company seven years ago.
Even so, the stock fell 1.8 per cent to close at Rs 153.65 on the BSE. The UK firm's shares slumped 23 per cent on Friday, before it filed for insolvency.
Thomas Cook India, acquired from Thomas Cook UK by Fairfax Holdings in 2012, pays a licence fee of Rs 2 crore to its former promoter to use the brand name in India and two other countries.
The company held a conference call with investors on Monday to clarify its separate ownership and that the closure of UK tour operator would have no impact on it. Madhavan Menon, chairman of Thomas Cook India, said: “The collapse of Thomas Cook UK opened up the possibility for us to acquire brand rights in three countries, but it is too early to take a decision.”
"We have two brands now — Thomas Cook and SOTC. The SOTC brand name will remain with us. We have a licence to use Thomas Cook brand name in India, Sri Lanka, and Mauritius till 2024," he said.
To read the full story, Subscribe Now at just Rs 249 a month
Already a subscriber? Log in
Subscribe To BS Premium
₹249
Renews automatically
₹1699₹1999
Opt for auto renewal and save Rs. 300 Renews automatically
₹1999
What you get on BS Premium?
-
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
-
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Need More Information - write to us at assist@bsmail.in