High Court of Delhi Allows Petition, Setting Aside Arbitration Award for Travel Food Services Limited
Travel Food Services Limited provided an update regarding ongoing litigation concerning its operations at Dabolim Airport, Panaji, Goa. The Company reported that the Hon'ble High Court of Delhi passed an order allowing an application filed by the Airport Authority of India (AAI), challenging an arbitral award previously passed in favor of the company.The dispute relates to the Food and Beverage (F&B) concession at Goa Airport. Travel Food Services Limited had initiated arbitration proceedings against AAI regarding the concession fee and the release of security deposits, bank guarantees, and other cash deposits held by AAI.
The original proceedings culminated in an arbitral award dated September 26, 2022. This award had favored the Company in certain amounts while rejecting AAI's counterclaims. Subsequently, AAI filed an application under the Arbitration and Conciliation Act, 1996, challenging this award.
The recent development involves the Hon'ble High Court of Delhi, which issued an order on April 6, 2026, allowing AAI's petition.
The core details of the proceeding, the ruling, and the basis for the decision are summarized below:
| Particulars | Detail |
|---|---|
| Authority | Hon'ble High Court of Delhi |
| Development | An Order dated April 6, 2026, was passed, setting aside the arbitral award issued in favor of the Company dated September 26, 2022. |
| Background | The Company had initiated arbitration proceedings against AAI regarding the F&B Concession at Goa Airport. AAI had raised counterclaims regarding the alleged non-payment of concession fees. |
| Court Finding | The High Court held that the unilateral appointment of the Arbitrator by AAI in the matter was void ab initio, thereby rendering the arbitral award a nullity in the eyes of law. |
| Impact | The execution application filed by the Company in relation to the said Arbitral Award has been disposed of as infructuous. |
Travel Food Services Limited stated that it is currently assessing the implications of the High Court's Order in consultation with its legal advisors to evaluate the appropriate course of action.
TRAVELFOOD Stock Price Movement
Shares of Travel Food Services Limited today slipped by 0.39% to close at ₹1301.3, down ₹5.10 from its previous session. Trading concluded today on a volume of 30,889 shares.Source:
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