Sahara Group has now demanded a ban on the new Netflix series ‘Bad Boys Billionaires’ and asked the streaming platform to take some of the corrective measures to remove ‘ill-researched and baseless” content, which it alleged was aimed at tarnishing the image of the business house.
Objecting to the intention of Netflix, the spokesperson of Sahara India Pariwar said, “the whole film is a bundle of lie, manipulating and ill-conceived which is an attempt made by Netflix to tarnish the image of Sahara”.
Sahara Group said that the series has wrongly mentioned that Sahara is in the business of chit fund. In addition, the group also said that the film has very wrongfully alleged that its depositors are not genuine.
“This is completely wrong. We were never, and we are never a chit fund company. Since the beginning we were under regulation of Registrar of Firms Societies, under regulation of Reserve Bank for 21 years, worked long years under Ministry of Corporate Affairs and now our workers have promoted and are running cooperative societies under the regulation of Ministry of Agriculture,” Sahara Group said in a statement.
Apart from that, Sahara Group said that not a single rupee had been forfeited in any of the schemes of the Sahara, no matter whether the account discontinued or continued.
“It is said in the film that agents stop going to the village, and when the account is discontinued, account holder gets a letter of the amount being forfeited, which is absurd and wrongfully maligns Sahara Group’s image,” Sahara Group said.
On the issue of re-investment, Sahara said, “Netflix, in the film tried to paint a negative image of Sahara on the reinvestment aspect. Throughout the world, in all financial institutions including banks and, in the companies, where agents are promoting business like in life insurance, etc. the reinvestment is always done in a big way. In our case around 40 per cent is reinvested.”
Sahara Group called the series ill-researched and away from facts, and has also demanded that the film to be banned immediately across the globe.
With regard to fooling depositors for many years, Sahara Group said its “an absolutely wrong allegation that we were fooling the investors in beginning years and then we were /are unable to repay. We are regularly repaying though in some cases delayed payments are done but we are paying interest of the delayed period up to the last day”.
