In this reaction, when Methyl ( 2-oxocyclohexyl) ethanoate reacts with the given reagent then the double bond between the oxygen atom and cyclohexyl gets breaks down, such that O has a negative charge and that particular carbon will have a positive charge on it. So, to neutralize it, H⁺ gets substituted to that carbon and with O^- to form the structure of alcohol. Thus we get Methyl (2-hydroxycyclohexyl) ethanoate as a product.