NEW DELHI, July 22 -- Founder Ankur Jain's exit from Bira 91 owner B9 Beverages under a settlement with lenders has done little to reassure former employees, who say it leaves unanswered when, if at all, they will receive months of unpaid salaries and other dues.

In a LinkedIn post on Monday, Jain said he and his family would step down from the board and executive positions with immediate effect after reaching a settlement with lenders.

"We have now reached that settlement. As part of it, my family and I will be stepping away-from the board, and from our executive positions-with immediate effect. Both sides have agreed to withdraw all claims and litigation against each other, and the personal guarantees I gave over the years, for corpor...