Announcement Under Regulation 30 Of SEBI (LODR), Regulation, 2015.
DREAMFOLKS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Travel Food Services Limited, an operational creditor, has filed a petition under Section 9 of the Insolvency and Bankruptcy Code before NCLT New Delhi, alleging payment default by Dreamfolks Services. The disputed claim amounts to approximately Rs. 11.40 crore related to services rendered. The company strongly contests these allegations and states it has already made provisions in its books. Dreamfolks claims to maintain a strong financial position and intends to object to the petition through all necessary legal steps. This disclosure is made under Regulation 30 for investor transparency.
The filing signals potential legal uncertainty, though the petition has not yet been admitted by NCLT. The disputed amount of Rs. 11.40 crore is relatively small for a listed company. The stock may face short-term pressure from negative news flow, but the company's strong denial and provisions suggest they are prepared to contest this matter aggressively.