Netflix has finally completed Bad Boy Billionaires: India with the long-delayed fourth episode, “Riding the Tiger,” centred on the Satyam Computer Services scandal and founder B. Ramalinga Raju. The episode began streaming on Netflix on December 31, 2025—ending a legal freeze that has kept it off the platform since 2020.
The delay: injunctions and litigation
The Satyam episode was part of Netflix’s 2020 slate but was stalled after the Hyderabad City Civil Court granted an interim injunction restraining its release in early September 2020, following Raju’s petition citing concerns including privacy and potential prejudice to pending proceedings. Netflix challenged the order, but the episode remained unreleased while litigation continued.
“Riding the Tiger”: fraud and fallout
The episode revisits Satyam’s rise and the 2009 collapse after Raju’s confession of financial manipulation running into ~₹7,000 crore-plus, a scandal often likened to “India’s Enron.” The title references Raju’s own line from his letter: “It was like riding a tiger, not knowing how to get off without being eaten.”
Netflix, announcing the episode, posted: “After the success of IT company Satyam Computer Services, Ramalinga Raju’s math didn’t seem to be adding up.”
Series wrap
With “Riding the Tiger” now out, the docuseries completes its run after initially releasing episodes on Vijay Mallya, Nirav Modi, and Subrata Roy in 2020.
— By Manoj H