Netflix's Bad Boy Billionaires final chapter streams after five-year delay

After a prolonged legal and editorial limbo, Netflix on Wednesday released the fourth and final episode of its much-discussed documentary series Bad Boy Billionaires, bringing closure to a saga that has remained incomplete for nearly five years.

The final episode focuses on Satyam Computer Services founder B. Ramalinga Raju, whose legal challenge in 2020 stalled the release of the episode, arguing that the documentary presented “half-truths” and could prejudice ongoing legal proceedings. Following the objections, Netflix had put the episode on hold even as the first three episodes—on Vijay Mallya, Nirav Modi, and Subrata Roy—continued to stream on the platform.

Originally pitched as a hard-hitting exploration of India’s biggest corporate scandals, Bad Boy Billionaires quickly gained attention for its unflinching narrative style and investigative depth. The Raju episode, however, became the most contentious, with the former tech tycoon approaching courts to seek a stay, citing concerns over reputation and fairness. While legal hurdles delayed the release, the case became a talking point on creative freedom, corporate accountability, and the limits of documentary storytelling in India.

With the release of the final episode, Netflix said the series now stands “complete,” allowing viewers to watch the full arc of four of India’s most notorious financial scandals. The Raju episode revisits the 2009 Satyam accounting fraud, often described as India’s Enron moment, which shook investor confidence and triggered sweeping reforms in corporate governance.

Industry observers note that the delayed release reflects a more cautious approach by global streaming platforms operating in India, where legal scrutiny of content has intensified in recent years. Despite the delay, Bad Boy Billionaires remains one of Netflix India’s most talked-about non-fiction titles, winning awards and sparking debates on wealth, power, and accountability.

With its final chapter now available, the series closes a controversial yet significant chapter in India’s documentary landscape.