Bira 91 Faces Fresh Insolvency Threat Over ₹11.8 Cr Dues

Craft beer manufacturer Bira 91 is facing a fresh insolvency threat following Hindusthan National Glass & Industries Ltd (HNGIL)'s issuance of a default notice for alleged unpaid dues, according to a PTI report. The glass manufacturer has served a notice under Section 8 of the Insolvency and Bankruptcy Code (IBC) to B9 Beverages Ltd, Bira 91's parent company, demanding ₹11.77 crore for customised glass bottles.

HNGIL has given B9 Beverages 10 days to clear the dues or submit evidence of a pre-existing dispute. If B9 Beverages fails to do so, HNGIL can initiate a corporate insolvency resolution process (CIRP) under Section 9 of the IBC. This latest development follows a legal notice issued by HNGIL in May, demanding payment of dues and a schedule for lifting the bottles, which were manufactured specifically for Bira 91 and not easily sellable to other buyers.