India, July 28 -- Alternative investment firm Anicut Capital has reportedly taken control of Bira 91 founder Ankur Jain and his family's over 17% stake in debt-laden beer maker's parent B9 Beverages.

The development comes about a week after Jain stepped down from the startup's board and relinquished executive control and ownership following a prolonged dispute with lenders and investors.

Anicut Capital is also expected to nominate three directors to B9 Beverages' board, including cofounder IAS Balamurugan, and lead the startup's restructuring efforts, according to an ET report.

Anicut Capital declined to comment on Inc42's queries on the development.

Anicut had extended loans to B9 Beverages between 2017 and 2022, secured against the ...