Bira 91 Founder Ankur Jain Exits Board After Lender Deal

Ankur Jain, the founder of Bira 91, and his family have officially stepped down from all executive positions and the board of B9 Beverages. This significant departure follows a successful settlement with the company’s lenders, concluding an 18-month period of intense financial turmoil.

Throughout this challenging time, B9 Beverages grappled with severe financial difficulties. These included significant delays in salary payments to its employees and substantial outstanding dues owed to vendors.

Key Developments

• Ankur Jain confirmed via a public letter dated July 21 that all claims and litigation between B9 Beverages and its lenders are now withdrawn.
• Jain’s personal guarantees for the company’s loans will be released as part of the resolution.
• Salary delays at Bira 91 reportedly began in November 2024, impacting reimbursements and employee allowances.
• Over 250 employees had previously demanded Jain’s removal from management due to the worsening financial state.

Jain acknowledged the distress caused to employees due to unpaid salaries and other dues, taking personal responsibility for the difficult situation. He described the settlement process as lengthy and complex.

Settlement Specifics

• The intricate settlement process involved nearly 30 stakeholders, each with diverse interests.
• The specific financial terms of this resolution were not disclosed.
• A timeline for resolving outstanding payments to both employees and vendors also remains undisclosed.

This resolution marks a pivotal moment for B9 Beverages, aiming to close a chapter defined by operational missteps and a prolonged struggle to secure additional capital. The departure of its founder signals a new phase for the craft beer brand in the competitive Indian market.