Yatra Online terminates merger pact with US-based Ebix Inc

Yatra Online Inc seeks to hold Ebix accountable for breaches of its representations, warranties and covenants in the merger agreement and an ancillary extension agreement, and seeks substantial damages, the statement added.

"As detailed in the complaint, Ebix''s conduct breached material terms of the agreements and frustrated Yatra''s ability to close the transaction and obtain the benefit of Yatra''s bargain for Yatra''s stockholders," Yatra Online Inc said.

In a separate statement, Yatra Online Inc said, as of June 4, 2020, the company had $ 32.5 million (over Rs 240 crore) in total available liquidity and its current monthly run-rate operating fixed cost was approximately $ 1.2 million (over Rs 8 crore).

Gurugram-based Yatra.com is a major player in the online travel sector and provides services including domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, activities and ancillary services.