On a recent episode of Shark Tank India, Aastha and Radesh, a husband-and-wife duo from Jaipur, pitched their silver jewellery brand, Shyle, to the panel of sharks. Their story caught attention, especially with their dynamic energy, diverse product range, and competitive pricing. However, things took an awkward turn when shark Anupam Mittal became visibly upset. He expressed concerns about their readiness for commitment, especially when Radesh admitted that the couple had decided against external funding due to fears of financial risks. Despite their impressive pitch and engaging anecdotes about their marriage, the tension around the commitment issue created a challenging moment for the entrepreneurs.

Vineeta Singh pointed out problems in their business

During the negotiations, concerns emerged when Vineeta Singh questioned the couple's salary structure. She was taken aback to learn that their business was still registered as a sole proprietorship under Aastha's name, while Radesh received a ₹1.5 lakh monthly salary as a consultant. The couple explained this setup was designed to optimise their tax filings, but Vineeta criticized it as a "jhol" and expressed disappointment with their customer retention rate.

The couple sought ₹70 lakh for 1% equity in their company. In response, Namita Thapar and Ritesh Agarwal made a joint offer of ₹70 lakh for 1.5% equity, plus an additional 1% royalty until the initial investment was recouped. Anupam Mittal, on the other hand, proposed ₹1.4 crore for a 5% stake.

Why did Anupam Mittal backed out

While the pitchers were discussing whether to accept the offer with the royalty, Anupam overheard Radesh saying, “baad mein dekh lenge” (we’ll see later), though the couple denied making the remark. This statement enraged both Anupam and Vineeta, with Anupam calling it “absolutely unacceptable.” Vineeta cautioned that committing to a royalty agreement and later backing out could severely damage their reputation.

In the end, the couple accepted Namita and Ritesh’s revised offer of ₹70 lakh for a 1.5% stake, with a reduced 0.5% royalty. After the deal was finalized, the pitchers were overheard saying they weren’t interested in Anupam’s offer.

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