Travel Food Services Limited has scheduled its board meeting for May 25, 2026. The board will consider and approve the audited financial results for the quarter and year ended March 31, 2026, both standalone and consolidated. Additionally, the directors will deliberate on the recommendation of a dividend, if any, for the financial year 2025-26.

In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the company has announced that the trading window for dealing in its securities will remain closed until May 27, 2026. The window is scheduled to reopen on May 28, 2026, following the board meeting.

The company has submitted the necessary intimations to BSE Limited and the National Stock Exchange of India Limited. This disclosure is made in accordance with Regulation 29 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Meeting Details

Travel Food Services Limited has encountered a significant legal setback after the Delhi High Court set aside an arbitral award that was previously issued in the company's favor. The court order dated April 6, 2026, received by the company on April 12, 2026, has overturned the arbitral award dated September 26, 2022, in a dispute involving the Airport Authority of India.

Background of the Dispute

The legal proceedings stem from Travel Food Services' F&B concession operations at Dabolim Airport, Panaji, Goa. The company had initiated arbitration proceedings against Airport Authority of India, Goa Airport in 2018, seeking rebate in concession fees due to non-provision of electricity by AAI. Additionally, the company sought release of security deposits, bank guarantees, and other cash deposits held with AAI.

Court's Ruling and Rationale

The Delhi High Court allowed AAI's petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, which challenged the original arbitral award. In a significant development, the court ruled that the unilateral appointment of the arbitrator by AAI was 'void ab initio', thereby rendering the arbitral award a 'nullity' in the eyes of law.

The court's decision was based on a recent judgment of the Supreme Court, and notably, the High Court reached this conclusion without examining the merits of the original award. This procedural ruling has effectively invalidated the entire arbitration process that had previously favored Travel Food Services.

Impact on Pending Applications

As a consequence of the High Court's order, the execution application filed by Travel Food Services in April 2024 for implementing the arbitral award has also been disposed of as infructuous. This means the company cannot proceed with enforcing the favorable arbitral award that had rejected AAI's counterclaims pertaining to alleged non-payment of concession fees.

Company's Response and Next Steps

Travel Food Services has stated that it is currently assessing the implications of the court order in consultation with its legal advisors. The company is evaluating appropriate courses of action to safeguard its interests following this legal setback.

The development has been disclosed under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, as it represents a material change in the status of ongoing litigation involving the company. This disclosure follows the company's earlier mention of the case in its prospectus dated July 10, 2025.