'Ye deshdroh bandh karo': Shaadi.com's Anupam Mittal to Suhel Seth for calling founders 'fraud'

Shark Tank India judge and Shaadi.com founder Anupam Mittal, (right) founder and managing partner of Counselage India, Suhel Seth.

Shaadi.com owner and Shark Tank India judge Anupam Mittal has hit out at businessman and columnist Suhel Seth for accusing a majority of startup founders in the country of fraud for focusing on filling their own pockets while the company runs into major losses.

Taking to X, the "Shark" asked Sethi not to be an "anti-nationalist" in unfairly swinging mud at the founders. "Aren't we harassed enough that we need this crab mentality egging the bureaucracy on by calling founders and VCs frauds? Ye deshdroh bandh karo (stop this anti-nationalism)," Mittal wrote.

Aren't we harassed enough that we need this crab mentality egging the bureaucracy on by calling founders and VCs frauds? Ye deshdroh bandh karo https://t.co/cE4DsRE00L
Anupam Mittal (@AnupamMittal) April 7, 2025

When an X user highlighted that on business reality show Shark Tank India which has a panel of investors including Mittal, the emphasis is always on exits, not long-term value creation without any focus on deep tech, IP-driven businesses, or real innovation, the "Shark" replied: "It’s a TV show man. Get real … watching SaaS companies and AI companies' pitches, while meaningful, is not entertaining. Our investments are not limited to Shark Tank, and many of us angels have invested our life savings into companies of all hues -- including deep deep tech, something nobody else would back."

In a debate on Republic TV, Seth, the founder and managing partner of consultancy firm Counselage India, said, "Eighty percent startups in India are nothing but a racket." "The first thing that these startup founders do is buy themselves Lamborghinis and homes in Amrita Shergil Bagh and big apartments... When was the last time you paid yourself Rs 100 crore when your company was losing Rs 3,000 crore? These guys are doing it," he said.

Seth was defending Union commerce minister Piyush Goyal's criticism of the software economy in India. On April 3, Goyal stirred controversy after he urged startups to innovate better instead of focusing only on food and grocery delivery businesses.

"I am in total agreement with Piyush Goyal. India, if it has to make a meaningful contribution, has to be innovative. Where are our innovations?" "We keep talking about our software prowess... have we produced a Facebook? No. Have we produced a Google? No. Have we produced anything that is innovative which is a global brand? The answer is no. So you can keep defending 'Oh, but we're doing great stuff,' make statues of yourselves. Startups are not changing the world."