Thomas Cook (India) has received board approval for corporate restructuring, subject to regulatory approvals, via composite scheme of arrangement and amalgamation.

The company aims at streamlining its businesses into four key verticals. These verticals include, travel (outbound, domestic, business travel and MICE), foreign exchange, destination management services and portfolio investments such as Sterling Holiday Resorts.

The restructuring also includes the consolidation of the human resource services business into Quess Corp. Furthermore, following the composite scheme, Thomas Cook (India) (TCIL) shareholders will receive 1,889 equity shares of Quess of Rs.10 each, for every 10,000 equity shares of Rs.1 each held in TCIL.

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