‘Bad Boy Billionaire: India’ was a documentary that talked about frauds and corrupt activities by the biggest tycoons of the country. The show focuses on Vijay Mallya, Nirav Modi, Subrata Roy, and Ramalinga Raju. They were all involved in some of the major financial scams. The successful businessmen have fled the country after the money laundering activities. On 24th August, 2020 Netflix released a trailer for the documentary. But, due to the Indian court’s order, the series has been suspended. On 28th August, the Bihar Court filed a petition against Netflix to not release the documentary. People who are related to the scam have filed a restraining order stating that this will lead to invading the privacy and will be ruining their reputation. Mehul Choksi, the diamond merchant who was involved in the Punjab National Bank scam has asked for a pre-screening of the series.
What order did the Supreme Court give to Netflix?
The Supreme Court has rejected the plea that Netflix had filed and a stay order has been issued on the documentary. Netflix had originally scheduled the release of the series on 2nd September, 2020. But, we are assuming the release will be delayed. Also, the documentary will have a lot of cuts in the new version. Netflix also had to remove the trailer from its website. The platform has not commented on the issues as of now. But, they are fighting against the court to release their four-part series to talk about greed and corruption. They want to make the people understand more about the scam. Reports say that the documentary is the boldest portrayal of a fraud.
Who are the Bad Boys that the documentary is about?
Vijay Mallya, who had a successful career with Kingfisher scammed around 17 banks in India getting a loan of Rs. 7,000 crore. He was involved in money laundering and financial fraud after which he fled the country. In 2017, police arrested Mallya in London. Nirav Modi was a diamond businessman. He was on Interpol’s wanted list for the criminal activities that he had done. He committed a fraud against Punjab National Bank for $2 billion. Nirav had also cheated Paul Alfonso, selling him lab diamonds for $4.2 million.
The chairman of Sahara India, Subrata Roy was a part of a legal issue where Sahara issued bonds without the permission of SEBI. They collected around 24,000 crore rupees from around 3 crore individuals. Sahara had sent around 127 trucks that contained all the application forms. Ramalinga Raju embezzled and falsified 5,000 crore rupees of financial cash. Price Waterhouse Coopers was also involved as they certified $1.1 billion in cash instead of $78 million.