Ashutosh Garg, Paritosh Garg, and Manju Agarwal have jointly filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Globalbees Brands Private Limited, a material subsidiary of Brainbees Solutions Limited (FIRSTCRY).
The application, filed before the Hon’ble National Company Law Tribunal, New Delhi Bench, is for an alleged claim amount of ₹64,92,38,997 (₹64.92 crore) along with interest at 18% per annum accruing from May 9, 2025, until the date of actual payment.
Globalbees Brands Private Limited is actively seeking appropriate legal advice and undertaking all necessary measures to oppose the application, including at the admission stage, to safeguard its interests.
The financial implication on Brainbees Solutions Limited cannot be ascertained at present and is contingent upon the final outcome of the said proceedings and subsequent legal challenges.