# In the matter of WORLDS WINDOW WARDHA INFRASTRUCTURE PRIVATE LIMITED

> NCLT judgment dated 2025-11-17. Citation: TCN-2025-NCLT-01853. SREI Equipment Finance Limited filed an application under Section 7 of the IBC against Worlds…

- **Court:** NCLT
- **Order date:** 17 Nov 2025
- **Citation:** TCN-2025-NCLT-01853
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/worlds-window-wardha-infrastructure-private-limited-4379a8cf

## Summary

### Background

SREI Equipment Finance Limited filed an application under Section 7 of the IBC against Worlds Window Wardha Infrastructure Private Limited, seeking initiation of CIRP due to default in repayment of financial debt amounting to ₹9,97,27,223.

## Facts

A Common Loan Agreement was executed between SREI Equipment Finance Limited (FC) and Worlds Window Wardha Infrastructure Private Limited (CD) on 30.12.2019, for a term loan facility of ₹20 crores.

The first disbursement of ₹5 crores was made to the CD on 02.01.2020.

The CD executed a deed of hypothecation on 30.12.2019 in favor of the FC, creating a charge over its movable and immovable assets.

A deed of personal guarantee was executed by Mr. Piyoosh Goyal, a promoter of the CD, and the charge was registered with the RoC on 24.06.2020.

The principal amount was payable in a bullet instalment at the end of four years from the initial disbursement date, and interest was compounded monthly and payable quarterly.

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## Issues and analysis

### Issue 1: Whether the application …

**Ratio:** The application is not

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**Reasoning:** The Corporate Debtor defaulted from the very first quarter-end from the date of initial

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**Interpretation:** The Adjudicating Authority interpreted the facts to mean that the default was

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**Application:** The Adjudicating Authority applied the principle of continuous cause of action

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** SREI Equipment…
- **Respondents:** Worlds Window…
- **Other parties:** Manish Ag…; Piyoosh…
- **Advocates:** Arijit Ma…; Shambo…; +3 more

## Timeline

- **2019-12-30 — Loan Agre…**: Common Loan Agreement…
- **2020-01-02 — Disburse…**: First disbursement of ₹5…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(8) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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