# Approval of Resolution Plan - Mountain Meadow Holidays Private Limited

> NCLT judgment dated 2025-10-31. Citation: TCN-2025-NCLT-01598. HDFC Bank Limited filed CP (IB) No. 499/ND/2023 seeking initiation of CIRP against Mountain…

- **Court:** NCLT
- **Order date:** 31 Oct 2025
- **Citation:** TCN-2025-NCLT-01598
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/approval-of-resolution-plan-mountain-meadow-holidays-private-limited-122f2f8a

## Summary

### Background

HDFC Bank Limited filed CP (IB) No. 499/ND/2023 seeking initiation of CIRP against Mountain Meadow Holidays Pvt. Ltd. The Corporate Debtor was admitted to CIRP on 30.11.2023. Mr. Umesh Gupta was appointed as IRP and subsequently as RP. The RP invited claims from creditors and constituted the Committee of Creditors (CoC).

## Facts

HDFC Bank Limited initiated CIRP against Mountain Meadow Holidays Pvt. Ltd.

The Corporate Debtor was admitted to CIRP on 30.11.2023.

Mr. Umesh Gupta was appointed as IRP and subsequently as RP.

The RP constituted the Committee of Creditors (CoC).

The CoC approved the resolution plan submitted by Ms. Mona Vij with 100% voting share.

The RP filed IA No. 68/2024 seeking approval of the resolution plan.

The fair value of the Corporate Debtor is Rs. 13,39,12,000/- and the liquidation value is Rs. 9,36,74,000/-.

The Resolution Applicant has proposed Rs. 45,00,000/- for CIRP Cost.

The secured financial creditors would be paid a sum of Rs.11,22,00,000/- against the admitted claim of about Rs.1,10,04,16,000/-.

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## Issues and analysis

### Issue 1: Whether the resolution plan submitted by Ms. Mona Vij complies with the provisions of the IBC, 2016 …

**Ratio:** Section 30(2) of IBC,

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**Reasoning:** The Adjudicating Authority examined the compliance of the resolution plan with the

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**Interpretation:** The resolution plan must comply with all the mandatory provisions of the IBC,

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**Application:** The Adjudicating Authority found that the resolution plan submitted by Ms. Mona

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## Parties

- **Judges:** Sh. Ashok Kumar…; Reena Sinh…
- **Appellants:** HDFC Bank L…; Umesh G…
- **Respondents:** Mountain Meadow…
- **Advocates:** Ayush Si…; Sumit B…; +2 more

## Timeline

- **2023-11-30 — Admission t…**: Corporate Debtor…
- **2023-12-03 — Public Annou…**: Public Announcement in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 19(2) — Personnel to extend co-operation to interim…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-19)

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