GlobalBees Brands Pvt Ltd, a leading roll-up commerce firm and a subsidiary of Brainbees Solutions Ltd (the parent company of FirstCry), has come under legal scrutiny after an insolvency plea was filed against it at the National Company Law Tribunal (NCLT), New Delhi.
The application has been filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 by the directors of Kuber Mart Industries—Ashutosh Garg, Paritosh Garg, and Manju Agarwal—alleging a default of ₹64.92 crore, including interest at 18% per annum from May 9, 2025, until the date of actual repayment.
Insolvency Application at Admission Stage
The plea is currently at the admission stage at the NCLT’s New Delhi bench. According to a regulatory filing dated June 17, 2025, Brainbees stated that GlobalBees is actively consulting legal advisors and taking steps to contest the admission of the case.
“The financial implication on the company cannot be ascertained and is contingent upon the final outcome of the said proceedings and subsequent legal challenges,” the company mentioned in its official response.
Investor-Turned-Creditor? Kuber Mart’s ₹50 Cr Infusion Link
What adds a twist to the situation is that GlobalBees itself was an investor in Kuber Mart Industries, having infused ₹50 crore in June 2022. The reasons behind this investor-creditor dispute are yet to be disclosed in detail, but this development underlines potential friction in the partnership.
Leadership Reshuffle & Investor Exit
The insolvency plea comes at a time when GlobalBees is experiencing a leadership shake-up:
- CEO Nitin Agarwal stepped down citing personal reasons and has been replaced by Anuj Jain.
- Three major board members resigned in recent months:
- Harsha Deepak Kumar (Lightspeed)
- Sudhir Kumar Sethi (Chiratae Ventures)
- Kaveesh Chawla (Premji Invest)
This wave of exits may indicate growing concerns from the investor ecosystem amidst operational and financial challenges.
GlobalBees at a Glance
Founded in 2021, GlobalBees operates a Thrasio-style roll-up model, acquiring and scaling digital-first consumer brands across categories such as:
- Personal Care
- Home Essentials
- Nutrition
The firm has raised over $270 million from prominent investors like SoftBank, Lightspeed, Chiratae, Premji Invest, and Avendus.
Financial Snapshot: FY25 Performance
- FirstCry Group Revenue: ₹7,660 crore
- GlobalBees Contribution: ₹1,577 crore (~20% of the total)
While GlobalBees has been a key revenue contributor to the FirstCry umbrella, the outcome of the insolvency proceedings could potentially impact its future fundraising, strategic partnerships, and even valuation.
All Eyes on the NCLT Verdict
The outcome of this insolvency petition could set a significant precedent for investor-creditor dynamics in India’s fast-growing D2C and consumer brand acquisition space. With GlobalBees being a high-profile startup backed by marquee investors, this legal battle is expected to draw close attention from industry watchers and stakeholders.
Conclusion:
As India’s roll-up commerce ecosystem matures, the case of GlobalBees and Kuber Mart underscores the need for clearer frameworks in investor agreements, especially when stakes blur between equity funding and financial obligations. The NCLT’s ruling will not only determine GlobalBees’ legal standing but may also impact investor sentiment toward similar business models.