In a major development at B9 Beverages, the parent company of Bira 91, more than 250 employees have written to the board, top investors, and lenders demanding the ouster of founder Ankur Jain and a change in leadership. The petition, addressed to major stakeholders including Kirin Holdings, Peak XV Partners, and Anicut Capital, cited alleged corporate governance lapses, financial mismanagement and prolonged salary delays.
According to a report by _The Economic Times_, the employees accused the management of a “lack of transparency” and pointed to creditor cases indicating deteriorating financials and unpaid vendor bills. Nearly all current staff are said to have endorsed the petition, reflecting widespread discontent. Production at Bira 91 reportedly came to a standstill in July, while a proposed Rs 500 crore investment by BlackRock in the promoter group was shelved amid the crisis.
As of June 2025, Jain and his family held a 17.8 per cent stake in B9 Beverages, while Kirin Holdings remained the largest shareholder with 20.1 per cent. The company’s board includes Jain, his mother, and his wife.
Employee grievances appear to be at the core of the unrest. Workers alleged that salaries had been delayed by up to six months, reimbursements were pending since November 2024, and TDS and provident fund deposits had not been made for several months. The total overdue payments, including dues to former employees, are estimated at around Rs 50 crore. The company’s workforce has also shrunk sharply — from over 700 employees last year to about 260 currently.
In response, Jain acknowledged payment delays of three to five months and confirmed a “pause” in production, attributing the disruption to business restructuring, policy changes, and fundraising delays. He said operations are expected to resume this month as the company focuses on consolidating its presence in fewer states and stabilising its cash flows.
The unfolding situation is probably one of the most significant employee-led challenges in India’s startup ecosystem this year, highlighting growing concerns over corporate governance and financial sustainability in the country’s craft beer industry.
