Co-founder of boAt and Shark Tank India judge Aman Gupta tore up a cheque after pitching two brothers, Anand Nahar and Amrit, on a transaction on ‘Shark Tank India 3’. Two businessmen from the Business TV show on Sony Liv had asked for Rs 1.5 crore for 1 percent equity while they were pitching their fast food concept, Zorko.
In response to this demand, Aman Gupta, the CEO of Boat, and Ritesh Aggarwal, the creator of Oyo Rooms, offered a loan of Rs 1.3 crore at 10% interest over three years and Rs 20 lakh for 1% equity. Later on, though, things came to an end when the brothers made a counter offer and required of the sharks that they provide 100 hours of time in addition to money obligations.
Aman Gupta Needs Faith
According to Aman Gupta, you must have faith because he cannot make false promises or grant 50 hours of time. Ritesh Aggarwal, however, was prepared to offer 20 hours. Simultaneously, the two brothers insisted on requesting 50 hours of time rather than 100 from the judges. Aman Gupta walked away from the bargain, torn the check, and said, “Brother, please forgive me,” frustrated by her persistence.
Because neither of the brothers could decide, Ritesh Aggarwal also pulled out of the agreement. I have no issues with the hours, but you will need to have faith in Aman’s side, stated Ritesh Aggarwal. Almost ten lakh people have watched this video since it was uploaded to YouTube.
Let me tell you about Zorco, which was established in 2016 by the Nahar brothers from Surat, Gujarat. Without outside funding, Zorco opened 150 locations in just 17 months and made a healthy profit. More than 80 culinary items, such as pizza, burgers, sandwiches, toast, momos, and milkshakes, are sold by the company.