Shark Tank India 3: Sharks praise pitcher for setting up business after Rs 1100 cr loss, but refuse to invest in ‘kamzor’ start-up

As Namita asked the pitchers about their background, the ‘sharks’ discovered that Ajay’s business of steel manufacturing is undergoing bankruptcy and their investment of Rs 100 crore was “wiped out” after incurring losses. When Ajay told Peyush it was a business worth Rs 1100 crore, he was shocked. Anupam asked how did they manage to get back on their feet after such a huge loss.

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The pitcher explained, “We started depending on private and vendor credit. It was fine for short-term capital but between 2010 and 2014, the debt amount became around Rs 300 crore. From that time to now, we have lost all the things that dad created, all the assets, including our house.” They shared that their father also passed away as he suffered a heart attack because of stress.

Even now, the pitcher said they are not debt-free and have applied for bankruptcy. This made Amit Jain curious about how they managed to start a new business while being under such a huge debt. “Her savings,” revealed Ajay. Ruchika added, “My mother always taught me to save. So, I used to save every month and that money helped us.”

An impressed Anupam praised Ruchika and said, “Ye bhartiye naari ki khaasiyat hai (This is Indian women’s speciality) In difficult times, this only comes to the rescue. Well done!”

However, the ‘sharks’ were not convinced about investing in ‘Millet Amma’. Namita couldn’t find an ‘exit’ as an investor from the business and Anupam thought more than investment, they needed the expertise of someone on how to make their products better and saleable. Peyush said he can be their customer but not an investor.