HNGIL Serves Default Notice to B9 Beverages: Insolvency Looms for Bira 91 Maker

30 SEC SUMMARY

In 2026, Hindusthan National Glass and Industries Ltd (HNGIL) serves a default notice to B9 Beverages Ltd, the maker of the Bira 91 beer range, over an unpaid debt of Rs 11.77 crore. The default notice is a precursor to potential insolvency proceedings against B9 Beverages, which is already struggling with a debt of around Rs 1,000 crore.

TABLE OF CONTENTS

1. Introduction
2. Background
3. Details of the Default Notice
4. Financial Struggles of B9 Beverages
5. Restructuring Efforts
6. Potential Buyers
7. Key Highlights
8. FAQ Section
9. Conclusion
10. Call-to-Action

Introduction

Hindusthan National Glass and Industries Ltd (HNGIL) has issued a default notice to B9 Beverages Ltd, the maker of the popular Bira 91 beer range. The default notice, issued under Section 8 of the Insolvency and Bankruptcy Code (IBC), seeks recovery of Rs 11.77 crore for glass bottles that were manufactured but not lifted by B9 Beverages. This move could lead to insolvency proceedings against the debt-ridden brewer.

Background

HNGIL, a leading container glass manufacturer, has been in a prolonged dispute with B9 Beverages over the non-payment of dues. The company claims that B9 Beverages has defaulted on payments for glass bottles manufactured against confirmed purchase orders. The bottles, customized to B9 Beverages' specifications, are stored at HNGIL's plants in Bahadurgarh, Puducherry, and Rishra.

Details of the Default Notice

In the default notice, HNGIL claims that B9 Beverages has failed to pay Rs 7.03 crore for the manufactured goods, Rs 1.12 crore for storage charges, and additional interest. The total amount claimed is Rs 11.77 crore, after adjusting a credit of Rs 13.72 lakh. HNGIL has given B9 Beverages ten days to pay the amount or to place any pre-existing dispute on record.

Financial Struggles of B9 Beverages

B9 Beverages, which has been out of production since September 2025, is estimated to be carrying a debt of around Rs 1,000 crore. The company's founder, Ankur Jain, stepped down from all executive positions last month after settling with the company's lenders and investors. The brewing company is now under the restructuring process led by alternative investment firm Anicut Capital, along with existing shareholders Peak XV Partners and Kirin Holdings.

Restructuring Efforts

The proposed recapitalization aims to clear statutory liabilities, employee dues, and vendor payments before the company resumes operations. The restructuring process is expected to stabilize the company's financial situation and pave the way for a return to production.

Potential Buyers

Several companies, including Varun Beverages, a bottling partner of PepsiCo, are reportedly interested in acquiring B9 Beverages. The potential acquisition could provide a fresh start for the struggling brewer.

Key Highlights

FAQ Section

FAQ Section

**Q: What is the total debt of B9 Beverages? A: B9 Beverages is estimated to be carrying a debt of around Rs 1,000 crore.

**Q: Who is leading the restructuring process for B9 Beverages? A: The restructuring process is led by alternative investment firm Anicut Capital, along with existing shareholders Peak XV Partners and Kirin Holdings.

**Q: Are there any potential buyers for B9 Beverages? A: Yes, several companies, including Varun Beverages, are reportedly interested in acquiring B9 Beverages.

Conclusion

The default notice served by HNGIL to B9 Beverages highlights the brewing company's severe financial struggles and sets the stage for potential insolvency proceedings. With restructuring efforts underway and interest from potential buyers, the future of B9 Beverages remains uncertain but hopeful.

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