Thomas Cook (India), the integrated travel and travel related financial services company, has received approval of the High Court of Bombay for its merger with Sterling Holiday Resorts (India), vide order dated Jul. 2, 2015. The shareholder approval had earlier been obtained by way of a postal ballot and a court convened meeting.

Speaking on the approval, Madhvan Menon, MD, Thomas Cook, said that, "The company's strategic investments in Sterling Holiday Resorts is delivering well for us."

"We are confident of robust performances that broaden our business services platform to increase shareholder value," he comcluded.

The High Court of Bombay has sanctioned the composite scheme of arrangement and amalgamation between Sterling Holiday Resorts (India), Thomas Cook Insurance Services and Thomas Cook and their respective shareholders and creditors under the court process.

Shares of the company gained Rs 5.55, or 2.53%, to trade at Rs 225.00. The total volume of shares traded was 41,098 at the BSE (2.17 p.m., Tuesday).