- Hindusthan National Glass served a default notice on B9 Beverages for Rs 11.77 crore
- Notice issued under Insolvency and Bankruptcy Code's Section 8 before possible NCLT filing
- B9 faces financial crisis, debt near Rs 1,000 crore, with restructuring and possible acquisition ongoing
Hindusthan National Glass and Industries Ltd has served a default notice on B9 Beverages Ltd, the company behind beer brand Bira 91, over alleged non-payment of Rs 11.77 crore, and may approach the National Company Law Tribunal to initiate insolvency proceedings against the financially stressed brewer, according to a report.
The container glass manufacturer has issued the demand notice under Section 8 of the Insolvency and Bankruptcy Code, a mandatory step before an operational creditor can file an application under Section 9 seeking commencement of the Corporate Insolvency Resolution Process, news agency PTI reported.
According to the notice, HNGIL is seeking Rs 11.77 crore from B9 Beverages for more than 51 lakh customised 650 ml amber glass bottles manufactured against three purchase orders placed by the brewer in June and September 2024.
The bottles, manufactured to B9 Beverages' specifications and carrying its branding, remain stored at HNGIL's facilities in Bahadurgarh in Haryana, Puducherry and Rishra in West Bengal.
HNGIL said the customised nature of the bottles makes them difficult to sell to other buyers. The amount claimed includes Rs 7.03 crore towards the value of the manufactured bottles and Rs 1.12 crore in storage charges accumulated on the unlifted inventory.
The company has also claimed contractual interest on these amounts, after adjusting a credit balance of Rs 13.72 lakh in B9 Beverages' account.
HNGIL had earlier issued a legal notice to B9 Beverages on May 6, 2026, demanding payment of the outstanding amount and asking the brewer to provide a firm schedule for lifting the stock within 15 days. According to HNGIL, neither payment nor lifting of the bottles has been scheduled.
HNGIL Chief Strategy Officer Suraj Mehta said the company had issued the IBC demand notice following the earlier legal notice concerning commercial and contractual issues. He said the company remained open to a resolution but declined to comment further as the matter was under legal consideration.
Under the IBC, B9 Beverages has 10 days from receiving the demand notice to clear the alleged debt or bring on record evidence of a pre-existing dispute. If it fails to do so, HNGIL can approach the NCLT under Section 9 for initiation of CIRP.
The development comes as B9 Beverages continues to grapple with a prolonged financial crisis. The company has reportedly been out of production since September 2025 and is estimated to have debt of around Rs 1,000 crore.
Last month, Bira 91 founder Ankur Jain stepped down from the board and all executive positions at B9 Beverages, along with members of his family, following a settlement with lenders and investors. Anicut Capital, which held a lien on the shares, is understood to be leading the restructuring process with existing investors Peak XV Partners and Kirin Holdings.
The proposed recapitalisation is aimed at clearing statutory liabilities, employee dues and vendor payments before operations resume. Several companies, including Varun Beverages, are also reportedly considering a potential acquisition of B9 Beverages.
(With PTI inputs)
ALSO READ: Bira 91's Future In Doubt? Once A Craft Beer Darling, Auditor Raises Red Flag On Company's Survival
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