Dreamfolks Services Limited has disclosed that an insolvency petition has been filed against it under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Travel Food Services Limited, an operational creditor of the company. The petition has been submitted before the National Company Law Tribunal – New Delhi Bench (NCLT, New Delhi), alleging default in payment and alleged interest amount towards services rendered by the operational creditor. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, dated May 16, 2026.

Petition Details

The petition seeks initiation of the Corporate Insolvency Resolution Process (CIRP) against Dreamfolks Services. The key details of the petition are outlined below:

Company's Response

Dreamfolks Services has strongly disputed the claims made in the petition. The company stated that the alleged amount of approximately Rs. 11.40 crore is contested, and that appropriate provisions, as considered necessary, have already been made in its books of accounts. The company further asserted that it continues to maintain a strong and healthy financial position, and that the matter is not indicative of any financial stress relating to the company.

The company has stated it will take all necessary and appropriate steps to protect its interests and object to the allegations in the matter. Key points from the company's position include:

• The claims are strongly disputed by the company.
• Appropriate provisions have been made in the books of accounts.
• The company maintains a strong and healthy financial position.
• The matter is not indicative of any financial stress.
• The company will take all necessary steps to protect its interests and contest the allegations.

Disclosure and Transparency

The disclosure was made in the interest of transparency, governance, and investor awareness, as stated by the company. Dreamfolks Services has indicated that further updates, if any, will be duly intimated to the stock exchanges. The intimation was signed by Harshit Gupta, Company Secretary and Compliance Officer of Dreamfolks Services Limited.

Dreamfolks Services has disclosed, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has successfully completed the first phase of its proposed acquisition of ETT Solutions DMCC. This transaction involves a combination of secondary purchase of shares and primary subscription to freshly issued shares, with prior disclosures having been made on December 01, 2025 and April 23, 2026.

Acquisition Details

The first phase of the transaction, pertaining to the secondary acquisition of shares, has been completed and duly registered with the Dubai Multi Commodities Centre Authority. As a result, Dreamfolks Services' shareholding in ETT Solutions DMCC presently stands at 34%. The following table summarises the key parameters of the transaction:

Primary Subscription Phase

The subsequent phase relating to primary subscription to freshly issued shares is presently under process and is expected to be completed upon conclusion of the remaining procedural and regulatory formalities. While the company had initially indicated an estimated timeline of 120 business days for completion of the overall transaction, Dreamfolks Services has informed the stock exchanges that the primary subscription phase may extend beyond this indicative timeline. The company has stated that it remains committed to completing the transaction in accordance with applicable laws and will continue to keep the stock exchanges informed of material developments.

Key Highlights

• Dreamfolks Services has completed the first phase of the acquisition of ETT Solutions DMCC via secondary share purchase.
• The transaction has been duly registered with the Dubai Multi Commodities Centre Authority.
• The company currently holds a 34% stake in ETT Solutions DMCC.
• The primary subscription phase is ongoing and may extend beyond the initially indicated 120 business days.

This disclosure was signed by Harshit Gupta, Company Secretary and Compliance Officer of Dreamfolks Services, and the information is also available on the company's website at www.dreamfolks.com .