The National Company Law Tribunal, Chandigarh has issued notice on a complaint seeking investigation into the affairs of Travel Food Services Pvt. Ltd. (TFS), and few of its subsidiary Companies on the Complaint filed by one M/s Buddy (Mumbai) Duty Free Services Pvt. Ltd (Buddy).
TFS was recently in news for bagging three awards for The Irish House at Terminal 3, IGIA, Delhi Airport, and its in-house concepts – Dilli Streat and Raildhaba. Travel Food Services (TFS) is India’s leading travel F&B and Retail Company, with more than 300 outlets across travel-hubs including Airports, Railway Stations and Highways spread across 19 cities.
Buddy represented by PSL Advocates and Solicitors through its Founder & Managing Partner Mr. Sandeep Bajaj and Partner Mr. Soayib Qureshi has filed a petition before the NCLT Chandigarh under section 213 (b) of the Companies Act, 2013. It has alleged fraud running into crores of rupees by Travel Food Services. Sources have confirmed pendency of certain shareholder disputes between Buddy and Amit Arora who is said to be closely associated with the Travel Food Services group, which has given rise to the said complaint. Buddy has made serious allegations of fraud and siphoning of underlining assets of companies by TFS.Â
The NCLT Chandigarh has directed Travel Food Services, its directors and few subsidiary companies to file the responses to the complaint filed by Buddy.
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