Ankur Jain, founder of Bira 91 parent B9 Beverages, has stepped down from the company's board and his executive role after signing a settlement agreement with lenders and institutional shareholders. The move clears the way for an out-of-court restructuring and a fresh capital raise at the beer maker.
A letter from Jain, accessed by Entrackr, lays out what the settlement covers: withdrawal of all litigation between the parties, release of personal guarantees Jain had extended for corporate loans, and the exit of the promoter family from both the board and executive positions at B9 Beverages.
Why the settlement took so long
Jain said the process ran longer than expected because it involved nearly 30 stakeholders with "genuinely different, often competing interests." He described reaching agreement across that group as "close to a miracle."
"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.
What the settlement resolves
According to Jain, all parties have agreed to withdraw claims and legal proceedings against one another, bringing the dispute to a close. He confirmed the personal guarantees he had provided for corporate loans over the years would also be released under the agreement.
"It is, in every sense, a clean and full close of this chapter," he said.
Jain acknowledged that the prolonged negotiations had affected employees awaiting salaries, vendors awaiting payments, lenders seeking resolution, and shareholders looking for clarity.
The financial backdrop
B9 Beverages has faced severe financial stress over the past two years. The company reported a net loss of Rs 748.8 crore on operating revenue of Rs 638.5 crore in FY24.
That period was marked by cash flow constraints, delayed salary payments, and disputes with creditors — conditions that led investors to seek changes in the company's management. The company has not disclosed its financial statements for FY25 and FY26.
What happens next
Jain said Bira 91 now requires fresh capital, a clean balance sheet, and a new management team to lead the business into its next phase. He said he would support a smooth transition and continue to back the brand from the sidelines.
The settlement is expected to pave the way for an out-of-court restructuring, with existing investors likely to infuse fresh capital to revive the business.
