Sahara Group threatens legal action over the ‘Scam 2010—The Subrata Roy Saga’ web series, calling it an “abusive and grossly condemnable act.” The group added that it may initiate “suitable legal action” against the show’s makers.
After the popularity of “Scam 1992: The Harshad Mehta Story” and “Scam 2003: The Telgi Story,” filmmaker Hansal Mehta’s “Scam” series for the streaming platform Sony LIV continues with this most recent installment. It has been charged as a “dust-to-diamonds story of maverick businessman Subrata Roy.” On Thursday, series director Hansal Mehta revealed his plans for the upcoming series.
Sahara Group Threatens Legal Action Over ‘Scam 2010’ Web Series
Sahara India is upset and says that its members are considering legal action against the people involved in making the show. They believe the creators of ‘Scam’ are using disrespectful tactics to gain publicity by announcing ‘Scam 2010: The Subrata Roy Saga.’
Sahara Group stated,
“The makers of ‘Scam’ have committed an abusive and grossly condemnable act to achieve cheap and wide publicity by announcing ‘Scam 2010: The Subrata Roy Saga’,”
The statement said,
“Sahara India Pariwar condemns the actions of all individuals and parties involved and will resist their offensive behavior. The aggrieved members are seeking advice to take suitable legal action against the producer, director, and everyone involved in creating the illegal portrayal,”
Sahara Group’s Concerns and Clarifications
Sahara highlighted that the ongoing dispute with the Securities and Exchange Board of India (Sebi) is still pending before the Supreme Court of India. It warned that any attempt to influence the case could be seen as contempt of court and possibly criminal.
The group stated that Sahara India Pariwar has never been involved in any chit fund activity. It also pointed out that the Sahara-Sebi issue is about a disagreement over Sebi’s authority regarding some bonds issued by Sahara.
Applause Entertainment, along with Studio Next, is planning to produce a series based on the book ‘Sahara: The Untold Story’ by Tamal Bandyopadhyay, directed by Hansal Mehta.
Details about ‘Scam 2010’ Web Series
The production team behind ‘Scam 2010’ says the series will explore a big financial scandal involving Subrata Roy. He faced accusations of things like chit-fund scams and fake investors, leading to his arrest in 2014. Even today, there’s about Rs 25,000 crore that hasn’t been claimed by anyone. The Sahara Group, though, thinks it’s not fair because Roy can’t defend himself. They’re upset about using the word ‘scam’ in the title because they feel it’s defamatory and hurts the reputation of Subrata Roy and Sahara India Pariwar.
About Subrata Roy’s Legal Troubles
Subrata Roy, who passed away in November 2023 at 75 after battling illness, had many legal problems with his companies. They were accused of doing illegal things with Ponzi schemes, but his company always said they didn’t. In 2011, Sebi (Securities and Exchange Board of India) told two of his companies, Sahara India Real Estate Corporation Ltd (SIREL) and Sahara Housing Investment Corporation Ltd (SHICL), to give back money to about 30 million investors.
They got this money by selling bonds, but Sebi said they broke the rules. After a long fight in court, the Supreme Court said in 2012 that the companies had to pay back the money plus 15% interest. Sahara had to give about Rs 24,000 crore to Sebi for refunds, even though they said they had already paid back most of the investors.
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