Now, upGrad Files Insolvency Petition Against Bira91 Over ₹1.02 Cr Dues
upGrad initiated insolvency proceedings against B9 Beverages Ltd under the IBC, 2016, seeking recovery of ₹1.02 crore in outstanding dues. The petition was filed with Delhi's NCLT bench in October. Bira91's parent company is already embroiled in multiple insolvency proceedings and creditor disputes, including a ₹11.8 crore claim from glass manufacturer HNGIL. The NCLT has restrained B9 Beverages from asset disposal during ongoing mediation efforts.
Key points
- upGrad filed Section 9 insolvency petition against B9 Beverages for ₹1.02 Cr unpaid dues
- B9 Beverages facing multiple insolvency actions and creditor disputes
- NCLT has restrained asset disposal and ordered mediation between brewer and creditors
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