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

> NCLT judgment dated 2025-09-12. Citation: TCN-2025-NCLT-01444. 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-01444
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/approval-of-resolution-plan-mbl-mp-toll-road-company-limited-7f9c01d3

## 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.

Punjab National Bank International Limited (PNBIL) filed a Company Petition CP (IB)-423(PB)/2023 under Section 7 of the IBC for initiation of CIRP against the Corporate Debtor.

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 filed a status report during CIRP vide IA No. 1540/2025, and the same was taken on record by this AA vide order dated 07.04.2025.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan …

**Ratio:** The Resolution Plan must comply with the provisions of Section 30(2) of the IBC, which

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**Reasoning:** The Adjudicating Authority examined the Resolution Plan and found it to be in compliance

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**Interpretation:** Section 30(2) sets out the mandatory requirements for a Resolution Plan to be

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

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## Parties

- **Judges:** Ramalingam…; RAVINDRA CHATURVED…; +2 more
- **Appellants:** Punjab National…; Anjanee Kumar…; +3 more
- **Respondents:** M/s MBL (MP) Toll…; Punjab National…
- **Advocates:** Sumant…; Vinod Cha…; +5 more

## Timeline

- **2025-01-21 — Admission…**: The Application was admitted by this Adjudicating Authority vide order dated 21.01.2025…
- **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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