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Shark Tank India: J&K startup founders sued days after securing deal on TV show. Here’s what happened

Feb 07, 2024 02:57 PM IST

Shark Tank India: Lenskart CEO Peyush Bansal and boAt co-founder Aman Gupta put in ₹30 lakh for 4% of the equity in the startup Tramboo Sports.

A cricket bat manufacturing startup from Jammu and Kashmir has run into legal trouble days after it secured a deal on reality TV show Shark Tank India Season 3. The Cricket Bat Manufacturers Association of Kashmir (CBMAK) has sued Tramboo Sports, led by two youngsters Hamad Tramboo and Saad Tramboo, as well as the broadcaster Sony Pictures Networks.

In the episode aired on January 30, the youngsters had secured a deal from Lenskart chief executive officer Peyush Bansal and boAt co-founder Aman Gupta, who had put in 30 lakh for four per cent of the equity in the startup.

Lenskart CEO Peyush Bansal and boAt co-founder Aman Gupta with founders of Tramboo Sports.(X/Tramboo Sports)
Lenskart CEO Peyush Bansal and boAt co-founder Aman Gupta with founders of Tramboo Sports.(X/Tramboo Sports)

Why has cricket bat manufacturers’ body initiated legal proceedings?

A delegation of the cricket bat manufacturers’ body has refuted Tramboo Sports’ claims of being the sole manufacturer of Kashmir willow cricket bats. While speaking to a J&K-based website kashmirdotcom, the members of the delegation alleged that the startup owners misled the public and caused major harm to the association members’ business.

ALSO READ: Is Shark Tank 3 ‘scripted’ or are deals actually struck? Anupam Mittal answers

The association members said that the claims made by Tramboo Sports misled the public and buyers, and also tarnished the image of the indigenous Kashmir willow cricket bat manufacturing industry.

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The association has sent a detailed legal notice to both Sony Pictures and Tramboo Sports, seeking an on-air apology within 15 days. It has also sought compensation worth 100 crore for the ‘damages, loss and mental agony’ suffered by the body.

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