Ashneer Grover wants Sharks Tank investors to ‘put money in escrow before shoot starts'

Amid allegations by several founders who appeared on Shark Tank India that the investment they were promised by the judges never reached them, former judge of the business reality show, Ashneer Grover, suggested that the "Sharks" be asked to deposit the money they plan to invest in escrow before the shooting begins.

"Solution is simple -- ask Sharks to put money in escrow before the shoot starts! Dene ke liye paisa hona bhi chahiye (First, they should have the money before promising investment to others)," Grover tweeted.

“Sharks are called sharks because they're expected to take decisions and act quickly so that the 'fish' (the pitcher) has no time to react. If they say ‘no it takes time,’ then they shouldn’t be called Sharks — they should be called dolphins instead," Ashneer Grover, who was dropped as a judge on the second season of the business reality show, told Moneycontrol.

This comes amid simmering differences between Shark Tank India judges and the founders who have bagged deals, over issues surrounding delays in deal closure, changing terms, and re-negotiation of valuation.

For instance, Rahul, a founder who pitched on season two, secured a deal from Anupam Mittal, one of the Sharks on the show and the founder of Shaadi.com. Ten months later, Rahul tells Moneycontrol that there have been fundamental disagreements over what was earlier agreed upon (with Mittal), and he’s even been told that his business is not viable.