In aftermath of chaos around Britain's oldest travel group Thomas Cook's collapse in UK, on Monday, September 23, Chairman and MD of Thomas Cook India, Mhavan Men, spoke to ANI confirming reports. However, Mhvan Men reassured media that this shutdown won’t affect Thomas Cook India. He was quoted saying, "re are 2 companies, UK based Thomas Cook Plc & Thomas Cook India. Former stopped owning shares in Thomas Cook India in 2012. We've relation, our balance sheet is independent&sound. What has happened in UK is localized to UK”.

Thomas Cook shutdown 

shutdown of global travel firm was confirmed after  CEO of Thomas Cook group Peter Fankhauser told  media that

“It was a matter of profound regret that company h gone out of business after it failed to secure a rescue pack from its lenders in frantic talks that went through weekend in a statement.”   UK’s Civil Aviation Ministry also said: “Thomas Cook has confirmed that all UK companies in its group have ceased tring, including Thomas Cook Airlines.”

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More than 50,000 passengers left stranded worldwide

More than 50,000 passengers of Airline are reportedly stranded at various Airports. Many employees of company are also worried about ir future. According to reports, UK Government is w preparing ways to help stranded passengers. Thomas Cook Group was formed in June 2007 by merger of Thomas Cook AG and My Travel Group.  liquidation of company marks end of one of Britain's oldest companies that started life in 1841. 

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What happened?

Thomas Cook reportedly secured a rescue deal led by its largest shareholder in August. Following a demand from its banks to raise a furr £200m in contingency funding, leaving deal unfinished. 

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 (With inputs from ANI)