Announcement Under Regulation 30 of SEBI (LODR) Regulations, 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 Bench. The petition alleges default in payment of approximately Rs. 11.40 crore towards services rendered, seeking initiation of Corporate Insolvency Resolution Process against Dreamfolks Services. The company strongly disputes the claims, stating provisions have already been made in its books of accounts. Dreamfolks asserts it maintains a strong financial position and will take necessary steps to protect its interests and object to the allegations. This disclosure is made in the interest of transparency and investor awareness.
The petition has been filed but not yet admitted by NCLT, so no formal insolvency proceedings have begun. The Rs. 11.40 crore disputed amount is relatively small for a listed company. However, investor sentiment may be affected until the matter is resolved, as it remains a pending legal proceeding.