1 month ago
Bira Beer Maker Appoints Lender Nominees After Founder Exit
Imagine a company that makes beer, called B9 Beverages.
The founder, Ankur Jain, and his family decided to step down from the company after a deal with the banks.
The banks wanted to help the company by putting three of their own people on the board.
These new board members are from a firm called Anicut Capital and two other people who work for the company.
The company has been having money problems, so it stopped making beer for a while.
It also has a big tax bill from the state of Maharashtra.
The deal also means the founder and his family no longer have to pay the banks if the company can't pay back its loans.
The banks and other investors plan to give the company a new amount of money to help it get back on track.
This change is meant to help the company get better and keep making beer again.
B9 Beverages Ltd appointed three lender nominees to its board after founder Ankur Jain and his family resigned.
Nominees include Ilayaarunachalam Shanmugasamy Balamurugan, Veenu Mittal, and Venkatesh Parthasarathy.
The move signals lenders taking direct oversight as the company restructures debt and seeks fresh capital.
B9 had halted production in October 2025, faced a funding drought, and received a ₹26 crore tax notice from Maharashtra.
The settlement released Jain and family from claims and personal guarantees, and investors were ready to infuse ₹400 crore at a reduced valuation.
- Who
- B9 Beverages Ltd, founder Ankur Jain, lenders, and new board nominees
- What
- Appointment of lender nominees to the board after a settlement
- Where
- India
- When
- 29 July 2025 (filings dated 30 July 2025)
- Why
- To restructure debt, bring fresh capital, and give lenders direct oversight after financial stress
Key facts
- Company
- B9 Beverages Ltd
- Founder
- Ankur Jain
- New board nominees
- Ilayaarunachalam Shanmugasamy Balamurugan, Veenu Mittal, Venkatesh Parthasarathy
- Date of appointment
- 29 July 2025
- Settlement
- Release of claims and personal guarantees
Quotes
Ankur Jain
Founder of B9 Beverages Ltd
“I 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.”
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“I am sorry to every employee who didn't get what they were owed, when they were owed it. That is on me, and I will carry it.”
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