New Delhi, Oct 10 (IANS) More than 250 employees of B9 Beverages, the company behind popular craft beer brand Bira 91, have reportedly approached the company’s Board and key investors — including Japan’s Kirin Holdings and Peak XV Partners — demanding a leadership change and the removal of founder Ankur Jain from the management.

According to multiple reports, the employees have sent a petition to the Board, major shareholders, and the company’s largest lender, Anicut Capital.

The petition accuses the management of poor corporate governance, lack of transparency, delayed salaries, and unpaid vendor bills.

It also points to several cases filed by creditors, which reportedly highlight the company’s worsening financial health.

Nearly all current employees are said to have supported the petition. Reports suggest that Bira 91’s production came to a halt in July, while global investment giant BlackRock, which had been in advanced discussions to invest around Rs 500 crore in the company, has withdrawn from the deal.

As of June 2025, Ankur Jain and his family owned about 17.8 per cent of B9 Beverages, while Kirin Holdings remained the largest shareholder with 20.1 per cent.

The company’s Board currently includes Jain, his mother, and his wife.

In response, Ankur Jain said the company was “not aware of any such petition” and that the Board had not received any formal communication from employees.

He did, however, acknowledge that production had been temporarily paused in September and said operations are expected to resume this month.

Employees have also voiced serious concerns about salary delays and unpaid dues.

Several employees claimed that salaries had been pending for up to six months, with reimbursements delayed since November 2024.

One employee alleged that tax deductions (TDS) had not been deposited for over 50 employees during FY24, and no TDS payments had been made so far in FY25. The last Provident Fund payment was reportedly made in March 2024.

The total pending dues for more than 500 employees, including those who have left the company, are estimated at around Rs 50 crore.

Over the past year, Bira 91’s workforce has reportedly shrunk from more than 700 to just over 260 employees following multiple rounds of layoffs.

Jain admitted to payment delays, acknowledging that employee dues ranged between three and five months, depending on the level of employment. He also confirmed delays in paying statutory taxes.

Facing severe financial stress, the company has undergone major restructuring. Jain said B9 Beverages has scaled down operations to focus on fewer states, reduce fixed costs, and improve profit margins.

This restructuring reportedly led to a 50 per cent reduction in headcount over the past 15 months.

Financially, the company remains under pressure. B9 Beverages reported a net loss of Rs 748 crore in FY24 on revenue of Rs 638 crore, while sales volume fell to around 6–7 million cases from 9 million in FY23. The company has yet to file its FY25 financial results.

–IANS

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