Hindusthan National Glass and Industries issues default notice to Bira 91, plans to move NCLT
The container glass manufacturer has issued the notice under Section 8 of the Insolvency and Bankruptcy Code, a mandatory step before filing an application for commencement of the Corporate Insolvency Resolution Process.
Hindusthan National Glass and Industries Ltd (HNGIL) has issued a default notice to B9 Beverages Ltd, the manufacturer of the Bira 91 beer range, alleging default in payment for 51 lakh custom-made amber glass bottles of 650 ml. The bottles, manufactured according to B9 Beverages' specifications, remain at HNGIL's plants in Haryana, Puducherry, and West Bengal, with no indication of lifting by B9 Beverages.
HNGIL, seeking Rs 11.77 crore, claims storage charges, interest, and additional expenses due to the bottle stock. The notice follows a legal demand letter on May 6, 2026, demanding immediate payment or a firm lifting schedule within 15 days. B9 Beverages, led by ex-founder Ankur Jain, has ceased production and is reportedly in debt of around Rs 1,000 crore.
Alternative investors, including Anicut Capital and existing shareholders Peak XV Partners and Kirin Holdings, are reportedly in discussions for a potential recapitalization.
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