Netflix Inc. has dropped the final episode of ‘Bad Boy Billionaires: India’ on Satyam scam accused Ramalinga Raju after a five-year legal battle.
“After transforming information technology with Satyam Computer Services, Ramalinga Raju forges bank accounts to stay competitive,” writes Netflix India in its summary of the episode titled ‘Riding the Tiger’, which was originally set to premier in September 2020.
On 4 September 2020, just days before airing of the episode, the Hyderabad City Civil Court granted an interim injunction restraining Netflix India from airing the episode on Raju. The streaming platform challenged the order in higher courts but refrained from releasing the episode due to ongoing litigation.
- Raju had argued that the documentary contained “half-truths” that would tarnish his reputation and unlawfully invade his privacy. He claimed that airing the episode could prejudice the ongoing legal appeals against his conviction in the Satyam scam.
- Netflix said the documetary is just a depiction of publicly available records and nowhere does it focus on his personal life. The idea was to make people aware about one of the largest corporate frauds in India Inc.’s history.
With the release of the episode, the civil dispute between Raju and Netflix has effectively concluded in favour of the streaming platform. However, it wasn’t immediately clear whether the courts have vacated the injunction.
The case showcases an intersection between Rights to Freedom of Speech and Right to Privacy. It highlights the balance that is required to protect the rights of a person and also safeguard broader public interest.
The Satyam Scam & Ramalinga Raju
The Satyam scam, often called “India’s Enron”, unraveled when Raju, chairman of Satyam Computer Services, confessed to inflating the company’s books by more than ₹7,000 crore. The fraud involved 13,000 non-existent employees and fake bank statements.
For years, Raju falsified revenues, profit margins, and cash balances to prop up the share price, famously stating he was “riding a tiger, not knowing how to get off without being eaten”. Netflix used this quote to title its documnetary.
Following the confession, the government stepped in to prevent a collapse. The company was eventually auctioned and acquired by Tech Mahindra Ltd., while Raju and his accomplices were convicted and sentenced to prison.