B9 Beverages faces insolvency notice over Rs 11.77 crore debt

Hindusthan National Glass and Industries Ltd (HNGIL) has issued a default notice to B9 Beverages Ltd, the manufacturer of Bira 91 beer, seeking recovery of Rs 11.77 crore. HNGIL has initiated this process under Section 8 of the Insolvency and Bankruptcy Code (IBC), a mandatory step before potentially applying to the National Company Law Tribunal (NCLT) to begin Corporate Insolvency Resolution Process (CIRP) proceedings.

The dispute stems from unpaid orders for over 5.14 million customized 650 ml amber glass bottles manufactured specifically to B9 Beverages’ technical specifications. HNGIL alleges that the brewer failed to pay for the production or arrange for delivery, leaving the specialized inventory stored at facilities in Haryana, Puducherry, and West Bengal. HNGIL stated that the customized nature of the bottles prevents them from being easily sold to other buyers, resulting in blocked working capital and additional warehousing costs.

The total claim includes Rs 7.03 crore for the manufactured bottles and Rs 1.12 crore in storage charges, alongside requested contractual interest. This development follows previous leadership changes at B9 Beverages, including the departure of promoter Ankur Jain in July.