New Delhi, Oct. 14 -- Some large institutional stakeholders in homegrown beer maker B9 Beverages, the owner of the Bira 91 brand, have started discussions on the removal of founder and chief executive officer (CEO) Ankur Jain citing his inability to run the financially troubled company, according to four people aware of the development.

During a virtual call on 9 September, investors and lenders including Peak XV (formerly Sequoia India), Sofina, Sixth Sense Ventures, Anicut Capital and Japan's Kirin Holdings discussed the state of the business, with most shareholders agreeing to infuse fresh funds into the company on the condition that Jain steps down.

Two of the four people cited above attended the 9 September meeting.

A financial se...