Hindusthan National Glass and Industries Limited (HNGIL) has written directly to Bira 91‘s parent company B9 Beverages’ major investors warning of potential insolvency proceedings against the craft beer company over unpaid dues of over INR 11 crore.
HNGIL has sent the letter to Peak XV Partners, BlackRock, Sofina SA, Kirin Holdings, Tiger Pacific Capital, Anicut Capital, and Sixth Sense Ventures. In the letter reviewed by ETLegalWorld, HNGIL said that the decision to write to the investors was made to ensure “full disclosure” and to seek their “intervention in facilitating an amicable and commercially reasonable resolution” of the dispute.
The letter by HNGIL, dated June 4, 2026, says Bira 91 placed three confirmed purchase orders for the manufacture of customised glass bottles, worth approximately INR 11.74 crore. After manufacturing over 51.42 lakh bottles, HNGIL claims Bira 91 repeatedly failed to lift the stock or pay outstanding dues despite more than a year of follow-ups.
According to the letter, On May 6, HNGIL sent a legal notice to Bira 91 demanding payment of total outstanding dues of INR 11,19,12,728 with applicable interest, and lifting of 51.42 lakhs bottle from HNGIL’s plant.
Following a formal legal notice issued on May 6, 2026, Bira 91 founder and CEO Ankur Jain responded by email on May 7, saying that the company was “undergoing a recapitalisation process” expected to conclude by the end of the then-current financial quarter, and sought additional time.
The move is notable because HNGIL itself recently emerged from a prolonged corporate insolvency resolution process (CIRP).
“As you are aware that HNGIL itself has, in the recent past, come out from a prolonged insolvency resolution process and is presently engaged in the revival and stabilization of its business operations,” HNGIL noted in the letter.
“The continued and unjustified blockage: of inventory, warehousing infrastructure, and working capital consequent upon BIRA’s default imposes a material, disproportionate, and unsustainable financial burden on HNGIL,” HNGIL added.
“Our preference remains for an amicable, commercially reasonable, and mutually acceptable resolution of the present dispute,” HNGIL noted.
