Hindusthan National Glass and Industries (HNGIL) has issued a default notice to B9 Beverages under Section 8 of the Insolvency and Bankruptcy Code for alleged unpaid dues of ₹11.77 crore, PTI reported today. HNGIL is an operational creditor of B9 Beverages, it added.
This is a mandatory step before filing an application for commencement of the Corporate Insolvency Resolution Process (CIRP) and comes as the container glass manufacturer seeks to drag the debt-ridden brewer of the Bira 91 beer brand to the National Company Law Tribunal (NCLT), it added.
What has HNGIL claimed in its default notice?
HNGIL in its notice claimed default in payments and sought recovery of ₹11.77 crore for glass bottles manufactured against confirmed…