Bira 91 Founder Ankur Jain Steps Down From B9 Beverages Board, Executive Roles After Settlement
Bira 91 founder Ankur Jain and his family have stepped down from the board and all executive roles at parent company B9 Beverages after reaching a settlement with lenders and investors. Jain said the company now needs fresh capital, a clean balance sheet and new leadership. The agreement also includes withdrawal of litigation and release of his personal guarantees.
Bira 91 founder Ankur Jain and his family have stepped down from the board and all executive roles at parent company B9 Beverages after reaching a settlement with the company's lenders and investors. The decision marks a significant leadership transition for the beer maker as it seeks fresh capital and a new management team to lead its next phase.
In a three-page letter addressed to employees and stakeholders on July 21, Jain said the agreement involved nearly 30 stakeholders with "genuinely different, often competing interests" and took months of negotiations. The letter was shared on LinkedIn. Stock Market Today: Sensex Slides 715 Points, Nifty Ends Below 24,000 As Realty, PSU Banks Drag Markets.
Bira 91 Founder Ankur Jain Quits Board
After months of legal and boardroom disputes, BIRA 91 Founder Ankur Jain has stepped down from the company's board and his executive role as part of a settlement with lenders and investors. @R_Dhanrajani with details pic.twitter.com/nzogiHaTYV
— CNBC-TV18 (@CNBCTV18News) July 22, 2026
Settlement Ends Long-Running Dispute
Announcing the decision, Jain wrote: “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."
He said the company now requires fresh capital, a clean balance sheet and a new management team to drive its future growth, adding that he would support a smooth leadership transition. Infosys Stock Update: Share Price Drifts Lower Ahead of Q1 Results.
Litigation To End, Personal Guarantees Released
As part of the settlement, both sides have agreed to withdraw all claims and ongoing litigation. Jain also said the personal guarantees he had provided for the company's corporate loans would be released. “It is, in every sense, a clean and full close of this chapter," he said.
According to reports, B9 Beverages had defaulted on several loans from banks and financial institutions, against which the promoters had pledged their shareholding. Reports further suggest that the promoter family has relinquished its combined 17.8% stake, held jointly by Ankur Jain, Sashi Jain and Day1 Advisory, amid pressure from investors, including Kirin Holdings Singapore and Peak XV.
Apology To Employees
In his letter, Jain apologised to employees for delays in salary and other dues. He wrote: “I am sorry to every employee who didn’t get what they were owed, when they were owed it. That is on me." He acknowledged the challenges the company had faced over the past several months and said financial constraints had affected operations.
Reflects On Bira 91's Journey
Jain, who founded Bira 91 in 2015, said the company had successfully navigated several challenges over the years, including the COVID-19 pandemic. However, he added that over the past 18 months, the company had been unable to raise fresh capital "at any cost, under any terms."
Hints At New Venture
Looking ahead, Jain indicated that he plans to start something new with members of his core team, although he did not disclose further details.
“As I get on to my next act, it would be an honour to build it with you again, and this time, better," he said.
Despite stepping away from management, Jain said he would continue supporting Bira 91 from the sidelines and expressed confidence that the brand would continue to grow under new ownership and leadership.
(The above story first appeared on LatestLY on Jul 22, 2026 10:45 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
