# Wonderdream Developers vs. Findeal Investments

> NCLT judgment dated 4 Dec 2025. Citation: TCN-2025-NCLT-01798. Wonderdream Developers Private Limited, the Financial Creditor, filed an application under…

- **Court:** NCLT
- **Order date:** 4 Dec 2025
- **Citation:** TCN-2025-NCLT-01798
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/wonderdream-developers-vs-findeal-investments-1674e725

## Summary

### Background

Wonderdream Developers Private Limited, the Financial Creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process (CIRP) against Findeal Investments Pvt. Ltd., the Corporate Debtor. The application was filed due to a default of Rs. 21,06,19,288/- as on 29.07.2025, with the date of default being 31.12.2024. The Corporate Debtor had approached the Applicant for financial assistance, and a Short-Term Loan Agreement was executed on 15.09.2023.

## Facts

Wonderdream Developers Private Limited filed C.P. (IB) No.800/MB/2025 on 29.07.2025 under Section 7 of IBC.

The application sought to initiate CIRP against Findeal Investments Pvt. Ltd.

The Corporate Debtor's CIN is U67120MH1995PTC088263.

The Financial Creditor claimed a default of Rs. 21,06,19,288/- as on 29.07.2025.

The date of default was stated as 31.12.2024.

The Applicant proposed Mr. Dharmendra Dhelariya as the Interim Resolution Professional (IRP).

A Short-Term Loan Agreement was executed on 15.09.2023.

The Applicant disbursed Rs. 17,26,00,000/- between 11.10.2023 and 01.02.2024.

The debt carries an interest rate of 15% per annum.

The Corporate Debtor admitted receiving financial assistance.

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## Issues and analysis

### Issue 1: Whether the application under …

**Ratio:** Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency

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**Reasoning:** The Adjudicating Authority must be satisfied that a default has occurred and that the

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**Interpretation:** The provision allows a financial creditor to initiate CIRP against a corporate

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**Application:** The Applicant, Wonderdream Developers, filed the application under Section 7

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## Parties

- **Judges:** SAMEER…; NILESH S…
- **Appellants:** Wonderdream…
- **Respondents:** Findeal Investment…
- **Other parties:** Insolvency and…; Corporate…; +3 more

## Timeline

- **2025-07-29 — Application…**: C.P. (IB) No.800/MB/2025 filed by Wonderdream Developers Private Limited under Section 7…
- **2023-09-15 — Short-Term Loan…**: Short-Term Loan Agreement executed between…

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