B9 Beverages, the company behind Bira 91 beer, is facing another insolvency challenge, with UpGrad Education approaching the National Company Law Tribunal (NCLT) over an alleged unpaid amount of Rs 1.02 crore.
The application, filed before the tribunal’s New Delhi bench on 22 October, seeks to initiate the corporate insolvency resolution process (CIRP) against the brewer under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, according media report.
The case adds to a series of creditor claims against B9 Beverages as the company navigates a financial restructuring following a prolonged funding shortage. The brewer has been struggling to meet its payment obligations, with disputes involving suppliers and…