Shark Tank India's Ritesh Agarwal on claims of delayed release of funds: 'Because entrepreneurs...'

Shark Tank India: 'It is critical to make sure that there is a very high level of detailing about the investments we make,' said Oyo founder and CEO Ritesh Agarwal (centre), one of the newest judges on the show.

One of the new judges on the third season of Shark Tank India, Oyo founder and CEO Ritesh Agarwal, recently opened up about allegations of the judges delaying payment of funds to the winning pitchers. Speaking to Hindustan Times, Agarwal said that he aims to increase transparency regarding investments in the popular business reality show.

"It is critical to make sure that there is a very high level of detailing about the investments we make. Maybe because the entrepreneurs changed their minds or the estimates of their financials are different… I think our intention is to transparently communicate that," he told the publication. "My job will be to see how much transparency I can bring in terms of start-up investment so that there’s even more excitement among founders."

Speaking about his experience about being on Shark Tank India, the Oyo founder added, "I think for me to join Shark Tank is to see what I can do in my own way to try and support the next generation. I believe founders should not be judged by how big or small their business is but also by the difference they can make; they should all support each other. I try to do the same."

Last year, former Shark Tank India judge Ashneer Grover had also commented on the allegations by several founders who appeared on the show that the investment they were promised by the judges never reached them.

"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.

There have also been simmering differences between the 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 told Moneycontrol that there had been fundamental disagreements over what was earlier agreed upon (with Mittal), and he’s even been told that his business is not viable.

Read more: Shark Tank India: Fans call Deepinder Goyal 'soft Ashneer Grover' as he grills pitchers. Watch