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Beer Brand Bira 91 Faces Cash Crisis, Founder Eyes Asset Sale To Pay Pending Salaries, PF Dues: Report
Business

Beer Brand Bira 91 Faces Cash Crisis, Founder Eyes Asset Sale To Pay Pending Salaries, PF Dues: Report

Craft beer maker B9 Beverages' founder, Ankur Jain, has reportedly told employees that the company has identified a buyer for one of its assets. The move comes in an attempt to manage the struggling finances of the company. In a letter sent to the staff on Thursday, Jain said that this would help inject immediate funds to clear delayed salaries and provident fund (PF) dues, reported The Economic Times. "We have sent the proposal to key lenders and shareholders yesterday...and [are] hopeful of timely consent," the letter read as per the news organisation.  Notably, the company is facing mounting financial challenges that have left employees unpaid for months. Confirming the correspondence, Jain refrained from revealing which asset was up for sale. Speaking to ET, he said, "The company has identified various avenues to resolve dues for employees and recovery of business, including the sale of certain non-core assets." B9 Beverages, the parent company behind the popular craft beer brand Bira 91, counts Japan's Kirin Holdings, Anicut Capital, and Peak XV among its key shareholders and lenders. Investor Concerns Over Transparency Despite the proposed sale, questions have emerged among investors about the transparency of the process. Two senior executives from investing firms noted that they were unclear about the buyer's identity or the deal's terms, the report added. "We don't even know who the buyer is...is there a firm offer or term sheet?" the report noted, citing  one executive from one of Bira's largest investors. The concerns add another layer of uncertainty for the embattled company, which has been struggling with severe liquidity issues for months. In early October, media organisations reported that over 250 employees of B9 Beverages had petitioned the board and shareholders demanding Jain's removal. Their letter cited unpaid salaries for more than six months, pending arrears and reimbursements dating back to November 2024, and unremitted TDS for over 50 employees during the last financial year. The employee unrest has drawn wider attention, with staff also writing to the Union government over the delay in payments. Many have accused the company of withholding basic entitlements even as senior management remains in place. Production Halt and Mounting Losses Production at B9 Beverages has been suspended since July 2025, marking a major disruption in the supply of its flagship craft beer, Bira 91. The company recorded a net loss of Rs 748 crore in FY24, exceeding its total revenue of Rs 638 crore. Volume sales reportedly dropped to 6-7 million cases over the same period. The company has not yet filed its financials for FY25, further deepening uncertainty over its fiscal health. Jain’s letter to employees indicated that the proceeds from the asset sale would be directed towards critical areas. “The sale of the asset will enable immediate solution to some critical areas, including employee provident fund (PF) dues, payroll for the bottom 50 per cent of employees (including ex-employees) and resumption of business in key markets,” he wrote.

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1 year ago
Missing Indian Student Found Dead In Russia Dam After 19 Days; Family Seeks Probe
World

Missing Indian Student Found Dead In Russia Dam After 19 Days; Family Seeks Probe

The body of a 22-year-old Indian student who had been missing in Russia for nearly three weeks was discovered on Thursday in a dam near the White River in Ufa, the capital of Bashkortostan. The student, Ajit Singh Chaudhary, hailed from Kaphanwada village in Lakshmangarh, Alwar district of Rajasthan. He had travelled to Russia in 2023 to pursue an MBBS degree at Bashkir State Medical University, hoping to fulfil his family’s dream of seeing him become a doctor. Went Missing After Stepping Out to Buy Milk According to sources, Ajit was last seen on 19 October, when he left his hostel around 11 a.m., telling his friends he was stepping out to buy milk. He never returned. For days, friends, fellow students and family members clung to hope, circulating messages and reaching out to authorities for any trace of him. Their worst fears were confirmed when his body was recovered from a nearby dam, said Nitin Sangwan, chairman of Alwar Saras Dairy. The discovery brought an agonising end to a search that had stretched on for 19 days. Family Notified; Embassy Yet to Issue Statement There has been no official statement yet from the Indian Embassy in Russia, but officials have informed Chaudhary’s family of his death, according to sources. Former Union Minister Jitendra Singh Alwar expressed deep anguish over the tragedy, calling the circumstances surrounding Ajit’s death “suspicious”. He said that Ajit’s clothes, mobile phone and shoes were found near the riverbank shortly after his disappearance. “Ajit, from Kaphanwada village, was sent to Russia with great hope and the collective effort of his family’s hard-earned savings,” Singh wrote on X (formerly Twitter). “The news of his body being found in the river is utterly shocking. It is a heartbreaking moment for the entire Alwar community, we have lost a promising young boy under deeply troubling circumstances.” रूस में दिवाली से लापता अलवर के लक्ष्मणगढ़ निवासी और MBBS के छात्र अजीत सिंह चौधरी का शव मिलने की ख़बर से मन व्यथित है।कफ़नवाड़ा गाँव के अजीत को उनके परिवार ने बड़ी उम्मीदों और परिश्रम के साथ पैसे जुटाकर डॉक्टरी की पढ़ाई करने के लिए रूस भेजा था। करीब 19 दिन पहले वहाँ नदी किनारे… — Jitendra Singh Alwar (@JitendraSAlwar) November 6, 2025 He urged External Affairs Minister S. Jaishankar to intervene and ensure that Ajit’s body is brought back to India without delay. “This case must be investigated with complete seriousness,” he said, adding that the grieving family should not have to struggle through bureaucratic hurdles to bring their son home. Meanwhile, the All India Medical Students’ Association (Foreign Medical Students Wing) has also taken up the matter with the External Affairs Ministry. “His friends studying at the same university have confirmed the identification of the body,” the association said in a statement. The university has not yet issued an official comment on the student’s death.

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1 year ago
Astrophysicist Brian Cox shares ‘reliable’ sources amid ‘alien spaceship’ theories on comet 3I/ATLAS
Science

Astrophysicist Brian Cox shares ‘reliable’ sources amid ‘alien spaceship’ theories on comet 3I/ATLAS

Professor Brian Cox has dismissed claims that the interstellar object 3I/ATLAS is an alien spacecraft, calling such theories “drivel.” He explained the comet is entirely natural, composed of carbon dioxide and water ices, and poses no threat to Earth. Cox urged people to trust verified scientific sources over speculation, countering Harvard physicist Avi Loeb’s alien-origin theory.

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1 year ago
American physicist Brian cox shares ‘reliable’ sources amid ‘alien spaceship’ theories on comet 3I/ATLAS
World

American physicist Brian cox shares ‘reliable’ sources amid ‘alien spaceship’ theories on comet 3I/ATLAS

Professor Brian Cox has dismissed claims that the interstellar object 3I/ATLAS is an alien spacecraft, calling such theories “drivel.” He explained the comet is entirely natural, composed of carbon dioxide and water ices, and poses no threat to Earth. Cox urged people to trust verified scientific sources over speculation, countering Harvard physicist Avi Loeb’s alien-origin theory.

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1 year ago
Xi in US: Chinese president shares light moment with Trump — Why China will never see these images
World

Xi in US: Chinese president shares light moment with Trump — Why China will never see these images

Rarely seen smiling, Chinese President Xi Jinping's stoic image was unexpectedly challenged by candid White House photos. These images captured him in lighter moments with Donald Trump and during a humorous exchange in South Korea, a stark contrast to his tightly controlled public persona. Back home, state media focused on his authoritative image, highlighting the opacity of elite politics.

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1 year ago
GTA 6 Delay Triggers Take-Two Stock Decline: Rockstar Says ‘We’re Sorry’
Technology

GTA 6 Delay Triggers Take-Two Stock Decline: Rockstar Says ‘We’re Sorry’

The highly anticipated game, GTA 6, has been pushed forward, yet again. The game was earlier set to release on 26 May 2026, but according to Take-Two Interactive’s latest financial report, it will now launch on November 19, 2026. Rockstar Games has also confirmed this new date on its social media accounts.  The company says the delay will give the developers more time to polish the game and meet the high expectations of fans. While Rockstar is confident about the new timeline, the news has already led to a drop in Take-Two’s stock. GTA 6 Release Date Delayed: Why The Launch Was Pushed Back? Take-Two said the delay is meant to ensure GTA 6 releases with the quality and polish players expect. The company stated that Rockstar wants to deliver a game that stands out and does not feel rushed.  Hi everyone,Grand Theft Auto VI will now release on Thursday, November 19, 2026.We are sorry for adding additional time to what we realize has been a long wait, but these extra months will allow us to finish the game with the level of polish you have come to expect and… pic.twitter.com/yLX9KIiDzX — Rockstar Games (@RockstarGames) November 6, 2025 This is not the first time GTA 6 has been delayed. Earlier this year, it had already slipped from its original schedule to May 2026. Now, with the new launch date moved to 19 November 2026, fans will need to wait even longer. The delay has also affected the stock market. Shortly after the news broke around 9 PM UK time, Take-Two’s stock dropped 8% in less than an hour, roughly $30 down per share.  This shows how closely investors are watching the game’s progress, since GTA 6 is expected to be one of the biggest entertainment releases ever. Take-Two CEO Strauss Zelnick said that although the delay is difficult news, he believes Rockstar is aiming for “perfection” and that the new release window is strong. GTA 6 Launch Platforms & What Comes Next GTA 6 is now expected to launch on PlayStation 5 and Xbox Series X/S on 19 November 2026. There’s no confirmation yet about a PC release. Even with the delay, excitement remains extremely high. Earlier this year, Take-Two confirmed that GTA 5 has sold over 210 million copies in 12 years.  With that massive success behind it, GTA 6 is expected to be even bigger. Fans are disappointed, but many agree that a polished game is better than a rushed one.

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1 year ago
UAE launches Emirati National Identity strategy to reinforce national values, unity, and cultural pride
World

UAE launches Emirati National Identity strategy to reinforce national values, unity, and cultural pride

The UAE has launched the Emirati National Identity Strategy during the 2025 Government Annual Meetings in Abu Dhabi, aiming to strengthen national pride, unity, and cultural heritage. Developed by the Ministry of Culture and the Presidential Court’s National Projects Office, the strategy defines core values, elements, and initiatives, integrating identity across education, family, media, and governance, ensuring long-term cohesion and belonging.

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1 year ago
Vietnam typhoon: Kalmaegi unleashes fury in Vietnam — Watch
World

Vietnam typhoon: Kalmaegi unleashes fury in Vietnam — Watch

Typhoon Kalmaegi has claimed 188 lives after making landfall in Vietnam. The storm brought fierce winds and heavy rains, damaging buildings and infrastructure. Two deaths were reported in Vietnam, with more feared. The Philippines had already declared a national emergency. Kalmaegi is now moving towards Cambodia and is expected to impact Laos and Thailand, with warnings of heavy rainfall and potential floods issued.

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1 year ago