Netflix releases Ramalinga Raju's 'Bad Boy Billionaires' episode after 5yrs
What's the story
Netflix has finally released the much-awaited episode of its documentary series Bad Boy Billionaires: India, focusing on the Satyam Computer Services scandal and its founder, B Ramalinga Raju. Titled Riding the Tiger, this fourth episode was globally released five years after a legal battle delayed its premiere. The delay was due to an interim stay order from a Hyderabad civil court in 2020, following Raju's claim that it could harm his reputation and ongoing legal appeals.
Series overview
Netflix's 'Bad Boy Billionaires's series: A recap
The first season of Bad Boy Billionaires: India premiered in October 2020, featuring investigative profiles of Vijay Mallya, Nirav Modi, and Subrata Roy. However, the episode on Satyam was withheld due to the legal proceedings initiated by Raju. Roy had also moved the court, but his episode was released after a month-long battle. The series delves into major financial scandals involving prominent Indian businessmen.
Legal proceedings
Raju's legal intervention and Netflix's response
Raju sought to block the episode, stating that its content might influence public perception while his legal appeals were still active. He described the documentary's portrayal of events as containing "half-truths." However, Netflix countered these claims by stating that the documentary is a mere representation of publicly available records and does not delve into his personal life.
Scandal details
The Satyam scandal: A brief overview
The Satyam scandal, often dubbed "India's Enron," was a massive corporate fraud that involved Raju inflating the company's books by over ₹7,000 crore. The fraud included 13,000 fictitious employees and forged bank statements. Raju had been manipulating revenues, profit margins, and cash balances for years to maintain the share price of his company.
Episode release
'Riding the Tiger': A fitting conclusion to the series
Netflix India announced the release of Riding the Tiger on its official social media platform. The episode explores the financial misconduct at Satyam, which led to one of India's biggest corporate fraud cases. The scandal was exposed in 2009 and caused an estimated $1.5 billion loss. With this release, viewers can now enjoy the complete series.