Sahara Group has strongly criticised the forthcoming series titled ‘Scam 2010 – The Subrata Roy Saga,’ denouncing it as an ‘abusive and highly condemnable act.’ They have stated their intention to explore ‘appropriate legal recourse’ against the creators.
The series, touted as a portrayal of the transformational journey of entrepreneur Subrata Roy from rags to riches, marks the third instalment in filmmaker Hansal Mehta’s successful ‘Scam’ series for streaming platform Sony LIV, following ‘Scam 1992: The Harshad Mehta Story’ and ‘Scam 2003: The Telgi Story.’ Mehta announced the latest addition to the series on Thursday.
Sahara Group contemplates legal action against ‘Scam 2010’ creators
In a formal statement, Sahara India expressed its displeasure, with ‘affected parties’ considering legal action against the producers, director, and all those associated with the show’s production.
The statement condemned the unveiling of ‘Scam 2010: The Subrata Roy Saga’ as a ploy for sensationalism and publicity. Sahara India Pariwar voiced strong opposition to the portrayal, labelling it offensive. They reiterated their intention to pursue legal measures against the individuals involved in the production.
The group emphasised the ongoing legal dispute between SEBI and Sahara, cautioning against any attempt to influence the legal proceedings. They asserted that any such endeavour would amount to contempt of court and criminality.
Dispute with SEBI and details ‘Scam 2010’ production
Additionally, Sahara clarified that the disagreement with SEBI centred on the regulatory jurisdiction over certain bonds issued by the group, denying any involvement in chit fund activities.
Based on Tamal Bandyopadhyay’s book ‘Sahara: The Untold Story,’ the series is set to be produced by Applause Entertainment in collaboration with Studio Next and directed by Mehta. According to the creators, ‘Scam 2010’ will explore one of India’s most notorious financial scandals, delving into Subrata Roy’s tumultuous journey, from allegations of chit fund manipulations to his arrest in 2014.
The statement from Sahara Group emphasised the importance of upholding the reputation and dignity of individuals, particularly in the absence of their ability to defend themselves.
The group further highlighted that the use of the term ‘scam’ in the series title, associated with Sahara, could be construed as defamatory, potentially damaging the legacy of Saharasri Ji and Sahara India Pariwar.
Subrata Roy’s legal battles and SEBI directive: A background
Subrata Roy, who passed away in November 2023, faced numerous legal battles related to his group’s alleged circumvention of regulations through Ponzi schemes, allegations vehemently denied by his group.
In 2011, SEBI directed two Sahara Group firms to refund money raised from millions of investors through certain bonds, ruling that the funds were acquired in violation of regulations. Despite Sahara’s assertions of having refunded the majority of investors, the Supreme Court upheld SEBI’s directions, mandating Sahara to deposit approximately Rs 24,000 crore with SEBI for further refunds.
(With inputs from PTI.)