Devyani International moves to withdraw insolvency petition against Bira Beverages following settlement

Devyani International filed a plea to withdraw its insolvency petition against B9 Beverages Limited (Bira) at the NCLT, following a settlement after final arguments.

The petition alleged unpaid dues of ₹1.09 crore under brand alliance and supply agreements since FY 2023-24. The agreements covered promotion and supply at multiple airport locations.

Despite reminders, payments were unpaid from June 29, 2023. Devyani issued a statutory notice under the Insolvency and Bankruptcy Code, 2016, and filed the petition after Bira’s inadequate reply.

The NCLT has scheduled the withdrawal plea for hearing on September 10, while other insolvency petitions against Bira remain pending.

[Devyani International v B9 Beverages]