BENGALURU: Bira 91 founder Ankur Jain and his family have stepped down from the board and all executive roles at parent company B9 Beverages with immediate effect after the brewer reached a settlement with its lenders.In a public letter dated July 21, Jain said both sides agreed to withdraw all claims and litigation. The personal guarantees he extended for the company’s loans will also be released, bringing what he described as a “clean and full close” to the chapter. The exit follows an 18-month effort to raise capital that left employees waiting for salaries and other dues, vendors awaiting payments and lenders seeking a resolution.“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,” Jain wrote.Last year, TOI reported that salary delays began in Nov 2024, while reimbursements and employee allowances were also put on hold. Employees pointed to disrupted supplies, unpaid vendors and operational missteps as the brewer’s financial position worsened. Later, more than 250 employees sought Jain’s removal from the company’s management.Jain said the settlement took several months because it required nearly 30 stakeholders with competing interests to reach a common agreement. He did not disclose the financial terms of the settlement or provide a timeline for clearing outstanding dues to employees and vendors.
