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Shark Tank India 4: Namita Thapar calls out pitchers for fudging their numbers; why did Anupam Mittal remark 'Puri daal hi kaali hai?'
In the latest episode of Shark Tank India 4, Namita Thapar and Anupam Mittal were shocked to discover that a trio of founders had major issues in their accounting and financial claims.
Shark Tank India 4 has featured interesting pitches so far. While many startups left the Sharks super impressed, a few saw no deals happening. In the latest episode, Namita Thapar and Anupam Mittal slammed the pitchers for fudging their numbers. The former called them out for integrity as well as accounting issues. Anupam was also surprised by the fact that the pitchers not only gave inadequate data but also misrepresented the fundamental concept of their business.
Hailing from Maharashtra, Ezo founders appeared on the stage and elaborated on their startup. The trio explained their business idea and revealed that they make money by selling their billing machines to the shopkeepers. Owing to the subscription model, they earn income. When the Ezo founders mentioned that based on their figures so far, they expect to hit the Rs 30 crore mark this year, the Sharks had no option but to question 'how.'
After several rounds of discussions regarding the financial statements, Anupam Mittal and his fellow Sharks uncovered a troubling issue. They found that the founders of the company used an unethical accounting practice that raised serious concerns about the transparency of their financial reporting. Namita Thapar took the opportunity to clarify the distinction between two major accounting methods: cash accounting and accrual accounting.
After this, Anupam, visibly unimpressed, commented, “Puri daal hi kaali hai boss (everything seems to be having issues)." When one of the founders referred to their accounting issue as unintentional, Anupam refused to believe him. He remarked, “You’re a pro; don’t pretend like you didn’t know what you were doing.” Agreeing to the same, she said, “You’re inflating your numbers. It’s an integrity issue, not just an accounting issue."
Lastly, the Sharks started backing out of the deal. Namita and Ritesh showed no interest in investing in Ezo. Aman Gupta explained that the pitchers have a business mind and advised them to use their skills in a rightful way. He told them not to earn money by unfair means. Gupta said, "Gadbad se paise mat kamao." With that, the hopeful founders of Ezo made their exit without a deal. It was the second no-deal of the episode.
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