THE financial crisis at Cox & Kings (C&K) India – which precipitated the catastrophic collapse of Tempo Holidays and Bentours (TD 20 Sep) – continues to take casualties, with allegations the company abruptly terminated a number of staff within its Indian operations this week.
According to some of the impacted employees, they had not received any salary for the last three months, and have now been told their positions are redundant, reports Indian website HW News Network.
Employees claim to have been assured they would be paid for Jul, Aug and Sep this week, but instead received an email confirming they were no longer required, effective immediately.
Cox & Kings India CEO Peter Kerkar was one of the directors of Tempo Holidays Pty Limited, which was placed into administration last month putting 90 Australians and New Zealanders out of work.
The Indian parent company also last Fri was asked to surrender its IATA ID card (TD yesterday), while Cox & Kings’ statutory auditors in India have also tendered their resignation effective immediately due to “absence of any committed timelines” for publishing of the company’s Q1 results, which were due 30 Jun.
Tomorrow the administrator of Tempo Holidays/Bentours, William Buck, will hold the first meeting of creditors in Melbourne.
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Source: traveldaily