Globalbees Brands Private Limited, a material subsidiary of FirstCry’s parent company Brainbees Solutions Limited, is facing insolvency proceedings after three individuals filed a petition with the National Company Law Tribunal (NCLT), New Delhi Bench.
The application, filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, has been submitted by Ashutosh Garg, Paritosh Garg, and Manju Agarwal. The petition alleges a default of ₹64.92 crore along with interest at 18% per annum, accruing from May 9, 2025, until the date of actual payment.
In a regulatory filing with the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), Brainbees Solutions stated “Globalbees Brands Private Limited is actively seeking…