Business · India Bureau
UpGrad Files Insolvency Petition Against B9 Beverages Over ₹1.02 Crore Dues
EdTech firm UpGrad has initiated insolvency proceedings against B9 Beverages, the maker of Bira 91 beer, citing unpaid dues of ₹1.02 crore. The action marks another significant creditor challenge for the beverage company amid mounting financial pressures.
LSN India ·
UpGrad, an online education platform, has filed an insolvency petition against B9 Beverages Limited in connection with alleged outstanding dues of ₹1.02 crore, according to sources familiar with the matter.
The move adds to the growing list of creditor pressures facing B9 Beverages, which manufactures and distributes Bira 91, a popular craft beer brand in India. The company has been navigating significant financial headwinds in recent months, with multiple creditors pursuing recovery actions.
Insolvency proceedings represent a formal legal mechanism under India's Insolvency and Bankruptcy Code, typically initiated when a company defaults on outstanding payments. The filing suggests UpGrad has exhausted other recovery avenues in attempting to secure payment from B9 Beverages.
B9 Beverages has faced a challenging operating environment marked by competitive pressures in the Indian alcoholic beverage sector, supply chain disruptions, and changing consumer preferences. The accumulation of creditor actions signals deepening financial distress at the company, which had previously attracted significant venture capital investment.