The Scam Epidemic: India’s Unraveling Emperors

The latest installment in the “Scam” franchise, “Scam 2010,” is set to premiere on SonyLIV. It revisits memories of the Harshad Mehta and Abdul Karim Telgi scandals that shocked India in the 1990s, raising questions about systemic failures that enabled these financial misdemeanors.

The “Scam” franchise has become synonymous with India’s troubled business history. It testifies to the country’s penchant for grandiose ambition and hubris. The first two installments exposed the rot at the core of India’s financial markets. Now, director Hansal Mehta returns to direct a story about ambition, influence, and arrogance.

The Sahara empire, built on shaky ground, was always destined for collapse. Subrata Roy’s arrest in 2014 marked the beginning of the end, as the once-mighty conglomerate crumbled under its own excesses. The show’s narrative will be a fascinating tale of how one man’s meteoric rise was undone by his arrogance.

However, the real story is not just about Subrata Roy or Hansal Mehta’s masterful storytelling. It’s about the systemic failures that allowed these scams to thrive in the first place. India’s financial regulatory framework has long been criticized for its lack of teeth and accountability. Scams like Sahara’s have become a hallmark of India’s business landscape, with little being done to prevent them.

The “Scam” franchise serves as a reminder that the rot runs deep within India Inc., where greed and ambition often trump ethics and accountability. It’s a pattern that has repeated itself time and again – from Harshad Mehta’s stock market manipulations to Abdul Karim Telgi’s postal stamp scam. Each new scandal exposes the same underlying issues: crony capitalism, regulatory capture, and an utter lack of transparency.

The show’s producers are banking on public fascination with these stories, but it should be tempered with caution. India needs to confront its own demons rather than merely retelling them as entertainment. The “Scam” franchise may have become a cultural phenomenon, but it also serves as a grim reminder of India’s unfinished business.

As the show premieres on SonyLIV, viewers will be transported into a world of high-stakes ambition and reckless hubris. But behind the glitz and glamour lies a more disturbing reality – one that requires a more nuanced conversation about systemic failures that enabled these scandals to flourish in the first place.