# Approval of Resolution Plan - MBL (MP) Toll Road Company Limited

> NCLT judgment dated 2025-09-12. Citation: TCN-2025-NCLT-01443. The case pertains to the approval of a resolution plan for M/s MBL (MP) Toll Road Company…

- **Court:** NCLT
- **Order date:** 12 Sept 2025
- **Citation:** TCN-2025-NCLT-01443
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/approval-of-resolution-plan-mbl-mp-toll-road-company-limited-30d9e2ca

## Summary

### Background

The case pertains to the approval of a resolution plan for M/s MBL (MP) Toll Road Company Limited, the Corporate Debtor, under the Insolvency and Bankruptcy Code, 2016. The resolution plan was submitted by M/s MBL Infrastructures Limited, the Successful Resolution Applicant (SRA).

## Facts

The Corporate Debtor, M/s MBL (MP) Toll Road Company Limited, is a special purpose vehicle (SPV) incorporated on 31.10.2011.

The Company Petition CP (IB)-423(PB)/2023 was filed by Punjab National Bank International Limited (Financial Creditor) under Section 7 of the Code.

The Application was admitted on 21.01.2025, and Mr. Piyush Moona was appointed as the Interim Resolution Professional (IRP).

The Committee of Creditors (CoC) was constituted on 13.02.2025.

M/s MBL Infrastructures Limited submitted a resolution plan, which was approved by the CoC with 100% vote.

The RP received revised financial proposals from MBL Infrastructure Limited and Anirudh Agro Limited.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by M/s MBL Infrastructures Limited complies with the …

**Ratio:** The Resolution Plan must comply with all the requirements specified in Section 30(2) of

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**Reasoning:** The Adjudicating Authority has a duty to ensure that the Resolution Plan adheres to the

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**Interpretation:** Section 30(2) sets out the minimum requirements that a resolution plan must

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**Application:** The Adjudicating Authority found that the Resolution Plan complied with the

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## Parties

- **Judges:** Ramalingam…; RAVINDRA CHATURVED…; +2 more
- **Appellants:** Anjanee Kumar…; Piyush…; +1 more
- **Respondents:** M/s MBL (MP) Toll…; Punjab National…; +1 more
- **Other parties:** Committee of…
- **Advocates:** Sumant…; Vinod Cha…; +6 more

## Timeline

- **2025-01-21 — Admission…**: The Application was admitted by this…
- **2025-02-13 — CoC Consti…**: Accordingly, CoC was constituted on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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