New Delhi: Hindusthan National Glass and Industries Ltd (HNGIL) has served a default notice on B9 Beverages Ltd, the maker of the Bira 91 range of beer, as it plans to drag the debt-ridden brewer to the insolvency tribunal NCLT.
HNGIL, a container glass manufacturer, has issued the notice under Section 8 of the Insolvency and Bankruptcy Code (IBC), a mandatory step before filing an application for commencement of the Corporate Insolvency Resolution Process (CIRP).
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In the notice, HNGIL — an operational creditor of B9 Beverages Ltd — claimed default in payments and sought recovery of Rs 11.77 crore for glass bottles manufactured against confirmed…