UpGrad Education Private Limited, co-founded by Ronnie Screwvala, has approached the National Company Law Tribunal (NCLT) against B9 Beverages, the maker of Bira 91 beer, over alleged unpaid dues of Rs 1.02 crore.
The insolvency petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, before the NCLT’s New Delhi Bench on October 22, according to documents reviewed by media outlets. UpGrad has sought initiation of the corporate insolvency resolution process (CIRP) against B9 Beverages, founded by Ankur Jain.
The petition does not disclose the nature of services provided by UpGrad, the period over which the dues accumulated or the date of the alleged payment default. The claim is therefore an allegation by the operational creditor and has not been established through an NCLT admission order.
Bira 91 Faces Another Creditor Claim
The latest filing adds to the legal and financial pressure on B9 Beverages, which has been dealing with creditor disputes, funding constraints and operational disruptions.
In September 2026, the NCLT directed B9 Beverages, its promoters and certain creditors to explore a settlement through mediation in connection with multiple insolvency proceedings. The tribunal also directed that the company’s assets should not be parted with while the discussions were underway.
Among the creditors pursuing the brewer is glass manufacturer Hindusthan National Glass and Industries Limited (HNGIL). It has sought recovery of approximately ₹11.8 crore, alleging that B9 Beverages failed to take delivery of glass bottles manufactured against confirmed purchase orders.
HNGIL had claimed that more than 51 lakh bottles worth over ₹7 crore remained at its facilities, despite the encashment of bank guarantees worth ₹3.91 crore.
Ankur Jain Exits As Anicut Capital Leads Restructuring
B9 Beverages’ financial difficulties have also affected its operations. The company suspended its packaged beer business amid a prolonged funding shortage and mounting vendor, employee and statutory dues.
In July 2026, founder Ankur Jain and members of his family stepped down from the board and executive positions following a settlement with the company’s investors and lenders.
Anicut Capital, a key lender to B9 Beverages, subsequently took control of Jain’s stake and assumed a leading role in the restructuring exercise. The proposed revival effort has involved discussions with existing investors and creditors over recapitalisation and the settlement of outstanding liabilities.
Founded in 2015, Bira 91 had raised more than $200 million from investors, including Peak XV Partners, Sofina and Kirin Holdings. However, its financial troubles have put its business revival and creditor settlements at the centre of the restructuring process.
What The UpGrad Petition Means Under IBC
Under Section 9 of the IBC, an operational creditor can seek initiation of CIRP after serving a statutory demand notice and meeting the prescribed legal requirements, including the absence of a qualifying pre-existing dispute.
The alleged ₹1.02 crore claim is marginally above the ₹1 crore minimum default threshold currently applicable to corporate insolvency proceedings under Section 4 of the Code.
However, filing a petition does not automatically push a company into insolvency. The NCLT must examine whether the application is complete, whether the debt remains unpaid and whether the statutory conditions for admission have been met.
If admitted, the CIRP would commence and an interim resolution professional would take charge of the process. Until then, B9 Beverages remains outside a CIRP initiated through this particular petition.
The latest case highlights the continuing creditor pressure on the Bira 91 maker as lenders and investors work towards a possible restructuring and revival.
