Lenskart CEO Peyush Bansal: Eight months after their appearance on Season 4 of Shark Tank India, animation-services startup The Future Animations has gone public with serious allegations against Peyush Bansal, the CEO of Lenskart and one of the show’s “sharks”.

The Pitch & the Promise

According to co-founder Anmol, the company had pitched creative animation services (for film trailers, brand ads, sneak-peeks) to the sharks. During the show, Bansal reportedly offered ₹50 lakh for 10 % equity in The Future Animations. Anmol says he accepted, believing that life-changing exposure and mentorship would follow.

What Happened Post-Show

The smooth success on television did not translate into smooth operations. The Future Animations say: “The ‘deal’ signed on air was never backed by formal paper or cheque.” Two days after the episode broadcast (21 Jan 2025), on 23 Jan 2025, the Lenskart team asked the founders to present revised animation concepts (including a kids-eyewear brand “Hooper” under Lenskart).

The founders delivered multiple drafts under tight deadlines; however, approval was repeatedly delayed, including the entry of a Hooper manager going on a month-long leave just after requesting more revisions. Anmol claims they reduced their standard animation pricing (from ₹3-4 lakhs per minute) to ₹2 lakh and ₹1.8 lakh per minute for Lenskart projects, hoping the Lenskart tie-up would open doors. When it came to payment and equity transfer, Anmol says the investor (unnamed) and Bansal’s team kept postponing meetings; the message was essentially: once videos are delivered, payment comes; once payment clears, equity transfer follows.

Key Issues Raised by Future Animations CEO: 

1. Lack of a formal contract or cheque despite a televised deal.

2. Multiple revisions and managerial delays are causing project drag.

3. Payment terms and equity commitment allegedly not honoured.

4. Discrepancy between the public-facing pitch and the actual execution timeline.

5. Founders suspect the brand association was used more as portfolio leverage than a genuine partnership.

Take a look at the video: 

Also Read: The Explosive Success Story of India’s Biggest Fireworks Brand

What to Keep in Mind:

While reality shows such as Shark Tank garner public trust, entrepreneurs must always ensure:

1. A written agreement (not just TV filming).

2. Clear milestones, deliverables, and timeline.

3. Payment and equity terms immediately documented.

4. Be cautious of “brand name deals” that may defer actual business benefit indefinitely.

Where Does It Stand Now?

At this stage, the Future Animations have raised the issues publicly. There’s no widely published response from Peyush Bansal or Lenskart at the time of this writing. Whether legal action will follow or the matter will be mediated remains to be seen. He also clarified that if at all Lenskart or Peyush Bansal approaches him for continuing the agreement, he is not going to agree at any cost.

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