An NBFC client approached Accorg Consulting with ₹12 crore in unpaid NCD (Non-Convertible Debenture) dues from a Madhya Pradesh-based automotive components manufacturer. The company had been defaulting for 18 months, had multiple FIRs against promoters, and its banks had already classified the account as NPA. The NBFC had no security over assets — it was a clean financial creditor with only contractual rights.

1. Accorg NCLT lawyers filed a Section 7 petition at NCLT Indore Bench within 48 hours of engagement.
2. Despite the corporate debtor challenging admission (arguing multiple defenses including dispute of debt), we secured admission within 2 hearings.
3. IRP was appointed; Accorg assisted in CoC formation representing the NBFC as financial creditor.
4. We filed claims and participated in the CoC meetings with financial analysis by CA Harshaditya Kabra — critically evaluating 3 resolution plans submitted.
5. When the winning resolution applicant offered only ₹7.2 crore as recovery, we challenged the plan before NCLT citing inadequate liquidation value comparison.
6. After our objections, the resolution applicant revised the plan upward.

The NBFC recovered ₹10.4 crore — 87% of the principal amount — within 11 months of filing the CIRP petition. This was significantly above the liquidation value of ₹4.2 crore (i.e., what they would have received in liquidation). The corporate debtor was successfully resolved and taken over by a strategic investor, preserving 340 jobs.