Mondee, an online booking platform for travel agencies, announced on Friday that it had been acquired, and was now out of Chapter 11 bankruptcy.
Tabhi is a company which “acquired substantially” all the assets from Mondee Holdings and invested an unspecified amount of equity. This, it claims “significantly” reduced debts and other obligations.
Tabhi is now the name of Mondee.
Tabhi’s owner include affiliates from TCW Asset Management Company. Morgan Stanley Investment Management and Prasad Gundumogula co-founder and Chairman of Mondee.
Gundumogula invested “substantial amounts of personal cash” into the Mondee acquisition, and “now has a majority stake in it.”
