Legal16 May 2026, 11:32 am
Dreamfolks Faces ₹11.4 Cr Insolvency Petition from Travel Food Services
AI Summary
Dreamfolks Services Ltd is facing an insolvency petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Travel Food Services Limited, an Operational Creditor. The petition, submitted to the NCLT New Delhi, alleges default in payment of approximately ₹11.40 crore for services rendered. Dreamfolks strongly disputes the claims and asserts that appropriate provisions have been made in its books. The company maintains a strong financial position and will take necessary steps to protect its interests.
Key Highlights
- Travel Food Services filed an insolvency petition against Dreamfolks for alleged default of ₹11.40 crore.
- Dreamfolks disputes the claims and has made provisions in its accounts.
- The company asserts it maintains a strong financial position.
- Dreamfolks will take steps to protect its interests and object to the allegations.
- The matter is before the National Company Law Tribunal – New Delhi Bench.
Price Impact
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