Top Shark Tank India Controversies: Behind the Scenes of the Hit Show

Shark Tank India has clearly emerged as one of India's most favourite and discussed TV shows. The show, where a group of business tycoons come together to invest in aspiring entrepreneurs, not only encouraged millions of potential business owners but has also turned into a cultural phenomenon. Nevertheless, as is common with all the shows that have become so immensely popular, Shark Tank India too has had its fair share of controversies. Rude comments to questionable business moves, below are some of the biggest controversies that have ruffled the waters of the show.

1. Peyush Bansal's "CA Se Durr Raho" Controversy

One of the most popular and most talked-about instances of Shark Tank India took place during an episode that was telecast in January 2022. Peyush Bansal, Lenskart's co-founder and CEO, uttered a careless remark: "Ek advice hai, CA se durr raho" (One piece of advice, stay away from Chartered Accountants). The remark, which was made in jest, invited a furrow among netizens, particularly Chartered Accountants (CAs) and aspirants for the CA course. The reaction was immediate, and people flocked to Twitter, beginning the "Say No To Lenskart" trend. A petition calling for Bansal's ouster from the show soon attracted more than 20,000 signatures. Peyush Bansal subsequently made a public apology, stating that his statement was taken out of context and was not intended to hurt anyone. Even after the apology, the episode is still a thorn in the flesh of many viewers, particularly those who were offended by the comment.

2. Ashneer Grover's Offensive Remarks and Personal Scandals

Ashneer Grover, the blunt co-founder and erstwhile MD of BharatPe, was another judge whose actions on Shark Tank India evoked controversy. Famous for giving blunt and sometimes brutal feedback, Grover's remarks on the show left many entrepreneurs embarrassed. Perhaps the most shocking incident was when Grover termed a pitch "doglapan" (duplicity), a term that went viral and was widely criticized by the audience. Although some people liked the fact that he was honest, others thought that his style was too dismissive and offensive.

Away from the set, Grover's controversies kept mounting. A leaked audio recording emerged online in which Grover was purportedly heard insulting a Kotak Mahindra employee, fuelling the fire of his already scandalous reputation. This, along with his legal battles with BharatPe, contributed to the questioning of his presence on the show. Grover's aggressive demeanour has left many people questioning if his aggressive approach is actually contributing to entrepreneurship or if it's damaging the image of the show.

3. Judges' Bias Towards Specific Industries

Another controversy over Shark Tank India was one of bias. Several viewers noted that the judges appeared biased towards certain business types and wondered whether the show was fair. For example, Peyush Bansal, having experience in the tech sector from Lenskart, was frequently favouring tech-focused start-ups, even if their business model or product wasn't as good as others. Aman Gupta, the co-founder of boAt, also had a bias in favor of lifestyle and consumer electronics companies, or more specifically audio or wearable-based ones.

This bias triggered controversies among viewers, with others contending that the judges favoured investing in things they were knowledgeable about. Though it is a natural tendency of investors to finance ideas within their areas of competence, it made one wonder if Shark Tank India was giving similar opportunities to other entrepreneurs.

4. Unrealistic Valuations and Rejected Pitches That Succeeded Later

One of the most frequent trends witnessed in Shark Tank India has been the controversy surrounding valuations. Entrepreneurs feel their business is undervalued by the judges, and most have gone home empty-handed. But the twist is that some of these rejected ideas have gone on to achieve humongous success after the shoot.

For instance, Moonshine Meadery and Urban Monkey, which were both turned down by the sharks, managed to get funding later and become successful in the market. This has raised so many questions about the sharks' judgment, especially when it concerns assessing start-up companies' potential for growth. That so many of the entrepreneurs managed to do better deals after the show has cast doubt on whether the sharks' assessments were too much about making quick profits, instead of long-term value.

5. Regional Bias Charges

One of the other problems raised by viewers has been the so-called regional prejudice in Shark Tank India. Numerous entrepreneurs from metropolitan cities such as Delhi, Mumbai, and Bengaluru tended to get more eyeballs and offers of investment than those from Tier-2 and Tier-3 cities. This resulted in accusations that the sharks were biased in favor of business from urban areas, perhaps giving short shrift to the various and innovative business ideas coming from smaller cities around India.

These local biases, inadvertent or otherwise, created dilemmas on how the show can be produced to better portray India's entrepreneurial environment, giving equal scope for start-ups across the country.

6. Over-Drama and Emotional Manipulation

Shark Tank India has been faulted for over-dramatizing at times the emotional journey of entrepreneurs. While it’s important to highlight the struggles and hardships of entrepreneurs, some viewers felt that the show focused too much on emotional exploitation rather than the core business ideas. The emotional pitches often felt staged, leaving some audiences feeling uncomfortable and questioning whether the show was exploiting entrepreneurs for the sake of higher ratings.

Conclusion

Although Shark Tank India has certainly given many entrepreneurs a platform to present their concepts and gain investment, it's apparent that the show is far from controversy-free. From inflammatory remarks made by judges such as Peyush Bansal and Ashneer Grover to accusations of bias in valuations and favouritism, the show has been on the receiving end of criticism from various angles. But even with all these controversies, Shark Tank India remains a source of fascination for audiences and an influential platform to highlight India's dynamic start-up culture.

With the show only growing stronger, it will be interesting to note how the judges, such as Peyush Bansal, Ashneer Grover, Aman Gupta, and others, deal with these controversies and if they can better balance being frank and professional in their criticism.

Is there any major Shark Tank India controversy that we missed? Comment and let me know.