British travel group Thomas Cook Plc declared bankruptcy on Monday after talks with creditors failed. The 179-year-old travel provider was seeking #250 million from private investors to save the collapse. Around 150,000 British citizens were left stranded overseas. However, Thomas Cook India chairman Madhavan Menon clarified that the UK group is different from India. Despite the clarification, shares of Thomas Cook India fell 7.2% on Tuesday.
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