Archive · 18 Jun 2025
GlobalBees Faces Insolvency Petition from Kuber Mart Directors
GlobalBees, a company backed by FirstCry's parent company, is being sued because of a financial claim.
The old owners of a company called Kuber Mart, which GlobalBees bought, are asking for about 65 Crores plus interest.
They've filed a legal request to try to get the money back.
Brainbees, which owns a big part of GlobalBees, said it is trying to deal with the situation.
At the same time, some top people have left GlobalBees recently.
Kuber Mart directors filed an insolvency petition against GlobalBees Brands.
The petition is under Section 7 of the Insolvency and Bankruptcy Code.
The claim amount is for approximately INR 64.92 Cr, plus 18% annual interest from May 9, 2025.
Brainbees Solutions, FirstCry's parent, owns 51% of GlobalBees.
GlobalBees acquired a 74% stake in Kuber Mart in December 2021.
- Who
- Ashutosh Garg, Paritosh Garg, and Manju Agarwal filed the petition against GlobalBees.
- What
- An insolvency petition was filed against GlobalBees Brands.
- When
- The petition was filed recently; Interest accrues from May 9, 2025.
- Where
- Filed before the National Company Law Tribunal, New Delhi.
- Why
- Due to an alleged unpaid claim of INR 64.92 Cr plus interest.
Kuber Mart Directors
GlobalBees
Insolvency Petition
Kuber Mart Directors
Seeking to recover the alleged debt via insolvency proceedings.
GlobalBees
N/A
- Claim Amount
- INR 64.92 Cr, plus interest at 18% p.a.
- Petitioners
- Ashutosh Garg, Paritosh Garg, Manju Agarwal
- Respondent
- GlobalBees Brands
- Parent Company of GlobalBees
- Brainbees Solutions (FirstCry parent)
- Brainbees Stake in GlobalBees
- 51%
- Kuber Mart Stake (acquired by GlobalBees)
- 74%
