Shark Tank India: Aman Gupta tears up signed cheque as entrepreneur brothers blow deal worth Rs 1.5 crore

Two entrepreneur brothers on Shark Tank India blew a deal worth Rs 1.5 crore, after both Aman Gupta and Ritesh Agarwal had agreed to it.

By: Entertainment Desk

New Delhi | Updated: February 7, 2024 08:59 PM IST

3 min read

Aman Gupta on Shark Tank India.

Two entrepreneur brothers were offered a sure-shot deal on Shark Tank India, but managed to blow it at the last moment. ‘Sharks’ Aman Gupta and Ritesh Agarwal agreed to enter into a joint deal, through which they would fund a Gujarat-based fast-food company in exchange of equity and debt, which suited both founders perfectly. So, why did the deal fall apart?

The brothers made an impressive pitch, and laid out their ambitious plans for the future. They asked for Rs 1.5 crore in exchange of 1% equity, valuing their brand at Rs 150 crore. The brothers’ company, Zorko, operates 150 outlets across dozens of cities in India, and they announced their plans of launching at least eight new companies with the sharks’ support.

Also read – Shark Tank India: Judges take test drive of India’s first ‘AI car’, ask pitcher to find a job. Watch

Anupam Mittal, Vineeta Singh and Peyush Bansal dropped out for different reasons, but Aman and Ritesh decided to proceed with the deal. They offered the entrepreneurs Rs 10 lakh each in exchange for 1% equity, and the remaining Rs 1.3 crore on debt. The brothers were agreeable, but were desperate to also get 25 hours each from both Ritesh and Aman in mentorship.

Aman said that he was uncomfortable with committing a certain number of hours, and that the brothers would just have to trust him. Ritesh had no issues committing the hours as well. Both ‘sharks’ signed the final cheques, and Aman even got up to hand it over to the brothers, but they remained steadfast about getting 25 hours each from them. “Oh bhai, sun, I know what you’re saying, but I’m not going to commit hours to you. If I like you, I can get you to sit with me, I can introduce you to your team, but I’m not going to commit hours,” Aman said, adding that he doesn’t want to make any false promises.

“You have to trust him,” Ritesh said. But the entrepreneurs held their ground. “What’s the fun without a commitment?” one of them said. Ritesh agreed to extend his commitment to 25 hours, and said, “Chalo, deal pakki (the deal is done).” But sensing their hesitation, Aman abruptly backed out and tore up the cheque that he had signed. Watching Aman back out, Ritesh retracted his offer as well. “You’re indecisive, and for that reason, I’m out.” And that’s how the two brothers missed out on Rs 1.5 crore.

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