Netflix recently released three episodes of its docuseries Bad Boy Billionaires that focus on Sahara Group chairman Subrata Roy, fugitive diamantaire Nirav Modi and businessman Vijay Mallya.
Now, Sahara Group has, in a statement, called the series "ill-motivated, incorrect, misleading documentary depicted through some disgruntled people who hold personal grudges" against the company, writes Moneycontrol.
"While expressing opinion with regard to interviews of a few investors, the documentary has conspicuously spelt half-truth by concealing the fact that the Supreme Court had, vide its judgment dated 31 August, 2012, clearly directed SEBI to make a refund to the investors and though the SEBI is holding about Rs 22,000 crore of Sahara, it has only repaid about Rs 107 crore to the investors in last 8 years, and thus the allegations of non-payment to investors is only on account of blame to SEBI and cannot be fastened against Sahara," the statement further said.
Sahara also said that Bad Boy Billionaires is "technically misguided" in its usage of the term "Chit Fund" in reference to Sahara, a which is a legally founded business operation.
The statement mentioned that a criminal case has been filed by Sahara against Netflix and those associated with the docuseries.
The promos of the series also featured Mehul Choksi and Ramalinga Raju along with Mallya, Modi, and Roy. Netflix’s description for Bad Boy Billionaires ran as: “This investigative docuseries explores the greed, fraud, and corruption that built up — and ultimately brought down — India’s most infamous tycoons.”
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