Bira 91 faces insolvency threat over Rs 11.77 cr dues
Hindusthan National Glass and Industries Ltd (HNGIL) has issued a default notice to B9 Beverages Ltd, the maker of the Bira 91 beer range, demanding repayment of Rs 11.77 crore for glass bottles manufactured under confirmed purchase orders but not lifted by B9 Beverages. The operational creditor claims default in payments and seeks recovery of the amount under Section 8 of the Insolvency and Bankruptcy Code (IBC).
B9 Beverages has ten days to pay the debt or respond to the notice; failing which, HNGIL may initiate a corporate insolvency resolution process.
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