Wonderdream Developers Private Limited Vs Findeal Investments Private Limited (NCLT Mumbai)
The application C.P. (IB) No. 800/MB/2025 was filed on 29 July 2025 by Wonderdream Developers Private Limited, acting as the Financial Creditor, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Findeal Investments Private Limited, the Corporate Debtor. The claimed default amount as of the filing date was ₹21,06,19,288, including interest at 15% per annum, with the date of default recorded as 31 December 2024. The Financial Creditor proposed the appointment of Mr. Dharmendra Dhelariya as the Interim Resolution Professional.
The Financial Creditor stated that the Corporate Debtor approached it in 2023 for a short-term loan facility for business purposes. A Short-Term Loan Agreement dated 15 September 2023 was executed, under which a sanctioned limit of ₹18 crore was granted. The Financial Creditor disbursed a total of ₹17,26,00,000 between 11 October 2023 and 1 February 2024. The Corporate Debtor was obligated to repay the entire amount with interest by 31 December 2024. According to the Financial Creditor, the Corporate Debtor failed to meet this repayment timeline, later sought a one-month oral extension due to operational difficulties, and ultimately defaulted. The Financial Creditor issued demand notices dated 11 April 2025 and 24 May 2025, which elicited no response from the Corporate Debtor. The Financial Creditor asserted that the Corporate Debtor’s continued non-payment constituted a clear default, leaving no remedy except initiation of CIRP.
