New Delhi, Oct 10 (NationPress) Over 250 employees of B9 Beverages, the firm behind the acclaimed craft beer brand Bira 91, have allegedly reached out to the company’s Board and key investors, such as Japan’s Kirin Holdings and Peak XV Partners, insisting on a leadership overhaul and the ousting of founder Ankur Jain from the management team.

As per various reports, the employees have submitted a formal petition to the Board, primary shareholders, and the company’s principal creditor, Anicut Capital.

The petition charges the management with inadequate corporate governance, lack of transparency, delayed salaries, and outstanding vendor payments.

It also references multiple lawsuits initiated by creditors, underscoring the company’s deteriorating financial situation.

Almost all current employees are reported to have rallied behind the petition. Reports indicate that Bira 91’s production ceased in July, while global investment titan BlackRock, which had been in advanced negotiations to invest approximately Rs 500 crore in the company, has pulled out of the deal.

As of June 2025, Ankur Jain and his family held about 17.8 percent of B9 Beverages, while Kirin Holdings remains the largest shareholder at 20.1 percent.

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

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

He did admit, however, that production had been temporarily halted in September and that operations are projected to restart this month.

Employees have expressed significant worry regarding salary delays and unpaid dues.

Several employees alleged that salaries had been overdue for up to six months, with reimbursements lagging since November 2024.

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

The total outstanding dues for more than 500 employees, including former staff, are estimated to be around Rs 50 crore.

Over the past year, Bira 91’s workforce has reportedly diminished from over 700 to just above 260 employees following several rounds of layoffs.

Jain acknowledged payment delays, confirming that employee dues ranged from three to five months, depending on the employment level. He also verified delays in remitting statutory taxes.

Undergoing severe financial pressure, the company has implemented significant restructuring. Jain mentioned that B9 Beverages has downsized operations to concentrate on fewer states, reduce fixed costs, and enhance profit margins.

This restructuring has reportedly resulted in a 50 percent reduction in headcount over the past 15 months.

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