Nearly a year after repeated layoffs shook the Good Glamm Group, the after-effects are still unfolding through insolvency filings, unpaid salary claims, and assurances from the company’s founder.
Documents submitted under the National Company Law Tribunal (NCLT) process show that 246 employees have filed claims seeking recovery of pending dues, highlighting the scale of the employment fallout.
The filings indicate wide variation in the amounts sought. Some employees have claimed relatively modest sums ranging from Rs 30,000 to Rs 1 lakh, while others have reported significantly higher unpaid compensation running into several lakhs. In many instances, the amounts admitted after verification are lower than those claimed, suggesting ongoing scrutiny of the figures. The bulk of these claims were submitted between late September and early October 2025, pointing to a concentrated effort by affected employees to secure their dues.
Former employees describe the company’s downturn as abrupt and emotionally taxing. One ex-manager who worked at the firm from 2021 until early 2025 recalled that the organisation initially appeared stable, with strong appraisals and consistent leadership. However, after a phase of rapid acquisitions and expansion into a multi-brand structure, internal coordination reportedly weakened and senior leaders began exiting. Three rounds of layoffs followed. The manager, who was responsible for communicating earlier job cuts, was eventually laid off as well and is still awaiting salary payments worth roughly Rs 1.77 lakh.
Meanwhile, Deep Ganatra, the group’s former chief technology officer, said employees with vested stock options were informed that equivalent equity would be granted in the founder’s new Singapore-based venture, Co-Founder Club. Grant letters have reportedly been issued, though any future financial gains would depend on the company’s performance.
Sources indicate that founder Darpan Sanghvi has pledged to allocate 25 per cent of his future earnings toward clearing employee dues if the insolvency process does not fully address them. The commitment is expected to remain in place until outstanding payments are resolved.
The NCLT proceedings are ongoing, and a final resolution plan is anticipated in the coming months. Once concluded, the appointed authority is expected to update all stakeholders, including former employees still awaiting clarity.
