Hansal Mehta’s Scam series has become India’s best-known franchise of true business stories on screen. With Scam 2010: The Subrata Roy Saga coming in January 2027, here is a guide to all three seasons.
Scam series in order
| Season | Year | Real person | Lead actor | Based on |
|---|---|---|---|---|
| Scam 1992: The Harshad Mehta Story | 2020 | Harshad Mehta | Pratik Gandhi | The Scam by Debashis Basu and Sucheta Dalal |
| Scam 2003: The Telgi Story | 2023 | Abdul Karim Telgi | Gagan Dev Riar | Reporter Ki Diary by Sanjay Singh |
| Scam 2010: The Subrata Roy Saga | 2027 | Subrata Roy | Siddharth Bodke | Sahara: The Untold Story by Tamal Bandyopadhyay |
Scam 1992: Harshad Mehta
The first season follows stockbroker Harshad Mehta, whose rise in the early 1990s was linked to the misuse of the banking system to fund stock purchases. Journalist Sucheta Dalal’s reporting exposed it. The show, co-directed by Hansal Mehta and Jai Mehta, became a huge hit and made Pratik Gandhi a star. Its theme music is still widely used online.
Scam 2003: Abdul Karim Telgi
The second season tells the story of Abdul Karim Telgi and the fake stamp paper racket that spread across many states. Hansal Mehta was showrunner, and Tushar Hiranandani directed.
Scam 2010: Subrata Roy
The third season turns to Subrata Roy and Sahara India Pariwar, and the long case with SEBI over money raised from millions of small investors. Unlike the first two, this story involves a group that still exists, and Sahara objected to the series when it was announced in 2024.
Where to watch
All three seasons are on Sony LIV, produced by Applause Entertainment. Scam 2010 is due in January 2027.
Why the series works
- Real stories that many Indians half remember.
- Strong source books by journalists.
- Lesser-known lead actors who feel like the real people.
- Clear explanations of complex financial ideas.
Which Scam season should you watch first?
Each season is a standalone story, so you can start anywhere. Scam 1992 is the best place to begin if you want to understand why the franchise became so popular. Scam 2003 is a crime story built around a fake stamp paper racket. Scam 2010 will be the first season about a business group that still exists today.
Frequently asked questions
Is Scam 2010 a sequel to Scam 1992?
No. It is a new story with a new cast, linked only by the format and the team.
Was Scam 2003 released in two parts?
Yes. Sony LIV released it in two volumes in 2023.
When will Scam 2010 release?
Sony LIV has given a January 2027 window. The exact date is still to be announced.
Questions to think about
- Which Scam season best explains how the financial system works?
- Do these shows make viewers more careful with their money?
- What story should the franchise tell next?
