M/s. TKI Tours (India) Private Limited, a travel and tourism company, filed a Section 10 application under the Insolvency and Bankruptcy Code, 2016, for the initiation of its Corporate Insolvency Resolution Process (CIRP). The company faced severe financial distress due to the COVID-19 pandemic, global travel restrictions, and geopolitical instability in Europe from 2024 to 2026. These events led to substantial financial losses, an inability to provide contracted services, and defaults on payments to various creditors, demonstrating its state of insolvency.
M/s. TKI Tours (India) Private Limited (Corporate Applicant) was incorporated on 03.09.2004 as a private limited company.
The Corporate Applicant is engaged in the business of providing travel and tourism services, including operating as a travel agency and tour operator.
The business model involved accepting advance payments from customers and making advance bookings/payments to hotels, transport operators, and other service providers.
The COVID-19 pandemic and worldwide travel restrictions severely disrupted the global tourism industry and the Corporate Applicant's business operations.
The Corporate Applicant suffered substantial financial losses and defaulted in meeting its obligations towards various creditors.
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The Corporate Applicant, M/s. TKI Tours…
Prolonged geopolitical instability and war-like…
M/s. TKI Tours (India) Private Limited, a travel and tourism company, filed a Section 10 application under the Insolvency and Bankruptcy Code, 2016, for the initiation of its Corporate Insolvency Resolution Process (CIRP). The company faced severe financial distress due to the COVID-19 pandemic, global travel restrictions, and geopolitical instability in Europe from 2024 to 2026. These events led to substantial financial losses, an inability to provide contracted services, and defaults on payments to various creditors, demonstrating its state of insolvency.
M/s. TKI Tours (India) Private Limited (Corporate Applicant) was incorporated on 03.09.2004 as a private limited company.
The Corporate Applicant is engaged in the business of providing travel and tourism services, including operating as a travel agency and tour operator.
The business model involved accepting advance payments from customers and making advance bookings/payments to hotels, transport operators, and other service providers.
The COVID-19 pandemic and worldwide travel restrictions severely disrupted the global tourism industry and the Corporate Applicant's business operations.
The Corporate Applicant suffered substantial financial losses and defaulted in meeting its obligations towards various creditors.
…The Corporate Applicant, M/s. TKI Tours…
Prolonged geopolitical instability and war-like…