Glass manufacturer Hindustan National Glass & Industries Ltd (HNGIL) has warned B9 Beverages, the company behind Bira91, that it could face insolvency proceedings if outstanding payments of about Rs 11 crore are not cleared.
In a letter dated June 4 and addressed to investors in B9 Beverages reviewed by MoneyControl, HNGIL said it remained open to resolving the matter through discussions but would also consider legal remedies if a resolution was not reached.
The communication referred to a legal notice issued by HNGIL on May 6, in which the company sought payment of Rs 11.19 crore and asked B9 Beverages to immediately remove 51.42 lakh customised bottles stored at HNGIL facilities.
According to the letter, HNGIL stated that if the dispute…