Bira 91 Founder Exits After Settlement with Lenders
Bira 91 founder Ankur Jain exits board after lender settlement, paving the way for restructuring and fresh capital.
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Bira 91 founder Ankur Jain has stepped down from the company board and his executive role after reaching a settlement with lenders and investors, clearing the way for the company’s restructuring and a fresh capital raise.
Jain said that the settlement took much longer than expected as it involved nearly 30 stakeholders with “different, often competing interests.”
“We have now reached that settlement. As part of it, my family and I will be stepping away from the board, and from our executive positions, with immediate effect,” Jain wrote.
He further mentioned that parties have agreed to withdraw their claims and legal proceedings to bring a peaceful close to it. He added that personal guarantees provided against corporate loans over the years would be released as part of the agreement.
“It is, in every sense, a clean and full closure of this chapter,” he said.
Jain acknowledged ongoing negotiations had affected employees’ timely salaries, vendor payments, lenders seeking resolution and shareholders looking for clarity.
Jain said Bira 91 now requires fresh capital, a clean balance sheet, and a new management team to lead the business into its new phase.
B9 Beverages has faced severe financial stress over the past two years. FY24 reflected a net loss of INR 748.8 crore on operating revenue of INR 638.5 crore. Amid delayed salary and other disputes had sought changes in the company’s management.
Financial statements for FY25 and FY26 have not been disclosed yet.
Bira 91 founder Ankur Jain has stepped down from the company board and his executive role after reaching a settlement with lenders and investors, clearing the way for the company’s restructuring and a fresh capital raise.
Jain said that the settlement took much longer than expected as it involved nearly 30 stakeholders with “different, often competing interests.”
“We have now reached that settlement. As part of it, my family and I will be stepping away from the board, and from our executive positions, with immediate effect,” Jain wrote.
He further mentioned that parties have agreed to withdraw their claims and legal proceedings to bring a peaceful close to it. He added that personal guarantees provided against corporate loans over the years would be released as part of the agreement.
“It is, in every sense, a clean and full closure of this chapter,” he said.
Jain acknowledged ongoing negotiations had affected employees’ timely salaries, vendor payments, lenders seeking resolution and shareholders looking for clarity.
Jain said Bira 91 now requires fresh capital, a clean balance sheet, and a new management team to lead the business into its new phase.
B9 Beverages has faced severe financial stress over the past two years. FY24 reflected a net loss of INR 748.8 crore on operating revenue of INR 638.5 crore. Amid delayed salary and other disputes had sought changes in the company’s management.
Financial statements for FY25 and FY26 have not been disclosed yet.
