Hindusthan National Glass (HNGIL) has issued a default notice to Bira 91 (B9 Beverages) for Rs 11.77 crore over unlifted glass bottles, planning NCLT action.
Key Points
- HNGIL issued a default notice to Bira 91 for Rs 11.77 crore over unlifted customized glass bottles.
- HNGIL plans to move the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against Bira 91.
- The dispute concerns over 51 lakh customized amber glass bottles that Bira 91 allegedly failed to lift.
- Bira 91 is currently debt-ridden, out of production, and undergoing a financial restructuring process.
- The customized nature of the bottles prevents HNGIL from selling them to other buyers, causing financial strain.
New Delhi, Aug 30 (PTI) Hindusthan National Glass…