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When Amitabh Bachchan Went Bankrupt & Had To Pay Off Debt Of Rs 90 Cr: SRK's Mohabbatein Helped Him
Throwback Thursday is here and we've brought to you yet another 'old is gold' feature featuring Amitabh Bachchan. Big B is not only a megastar, he is an icon; a living legend. He has not only given us classic films but also has won millions of hearts with his humility. If that does not make a star a superstar, what else will? Currently, Mr Bachchan is not only popular among every kind of audiences but is also one of the richest celebrities of B-town. But, did you know that there was a time when Amitabh Bachchan went bankrupt and had to pay a huge debt of Rs 90 crore?
When Amitabh Bachchan's Company Was In A Financial Mess
It all happened when Big B's company, Amitabh Bachchan Corporation Limited (ABCL) was plagued by financial difficulties following Big B's bankruptcy. The company was established in 1996 and later found itself in a deep financial mess. In 1999, ABCL approached BIFR (Board of Industrial and Financial Reconstruction) to be rated as a sick company.
In 2003, Big B Announced His Company's Revival
However, in 2003, on his 61st birthday, Big B decided to announced that he's reviving the company in a new avatar - AB Corp and had said, "Many businessmen and financial advisers told me that I should give up ABCL and start a new life. But somewhere I felt that I owe people money. People had put faith in ABCL because of my name. Therefore, I could not let it go easily."
Big B: I Told Yash Chopra Ji That I'm Bankrupt
Speaking of struggles because of his failures, Big B had told a leading daily, "There was a sword hanging on my head all the time. I spent many sleepless nights. One day, I got up early in the morning and went directly to Yash Chopraji and told him that I was bankrupt." (sic)
How 'Mohabbatein' Helped Big B & He Paid Off A Debt Of Rs 90 Crore
"I had no films. My house and a small property in New Delhi were attached. Yashji listened coolly and then offered me a role in his film Mohabattein. I then started doing commercials, television and films. And I am happy to say today that I have repaid my entire debt of Rs 90 crore and am starting afresh," had added Bachchan.
Big B Had Also Praised Politician Amar Singh For Helping Him
While singing praises of Amar Singh, Big B had said, "I am very fortunate that I have a younger brother like him. He gave his hand to me in that trouble and introduced me to the Managing Worker of Sahara Group Subarta Roy and industrialist Anil Ambani. They joined hands not to put money, but they gave me moral support and strength."
Big B: We Have Been Slammed; We Have Been Hit
In another interview, Big B had said that after AB corp's resumption, he started sleeping and breathing easier. He had said, "The outstanding debt of Rs 90 crore was no small sum. But I breathe easier now, I sleep easier at night now. We don't want to be too proclamatory. We have been slammed, we have been hit, we have been submerged. We have had a bad spell, a terrible spell, but we are ready to start again."
Cut To Present
On the work front, Amitabh Bachchan was last seen in Taapsee Pannu starrer Badla. He will be seen next in Chehre alongside Emraan Hashmi and in Ayan Mukerji's Brahmastra, in which he will share screen space with Ranbir Kapoor and Alia Bhatt.
