GlobalBees Subsidiary Faces Insolvency Petition Over INR 64.92 Crore Claim
The D2C roll-up has sought counsel at the National Company Law Tribunal following a demand for nearly INR 65 crore by former Kuber Mart executives.
Overview
- Former Kuber Mart directors Ashutosh Garg, Paritosh Garg and Manju Agarwal filed an application under Section 7 of the Insolvency and Bankruptcy Code at the NCLT New Delhi Bench seeking INR 64.92 crore plus interest from May 9, 2025.
- GlobalBees Brands, 51% held by Brainbees Solutions, is contesting the petition and has engaged legal advisors to safeguard its interests.
- The claim traces back to GlobalBees’ December 2021 acquisition of a 74% stake in Kuber Mart Industries, where the petitioners once served as directors.
- The company has seen a wave of senior-level exits since August 2024, including CEO Nitin Agarwal’s resignation in April 2025.
- In April 2025, GlobalBees raised INR 73 crore as the first tranche of a planned INR 146 crore fundraise to fuel its D2C brand expansion.