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Amitabh Bachchan Corporation (formerly Amitabh Bachchan Corporation Limited ABCL) or AB CORP is an Indian entertainment company which is owned by Amitabh Bachchan. It was founded in 1995, it did event-management, film production and distribution work.
Amitabh Bachchan was on the brink of bankruptcy in 1999 when his venture, Amitabh Bachchan Corporation Ltd (ABCL), faced major losses.
Jul 20, 2016 · Amitabh Bachchan Corporation Limited. Established in 1996, ABCL projected a turnover of Rs 20 billion by 2000. However, from producing films which also starred Amitabh Bachchan, to sponsoring the Miss World pageant, the company lost millions and was in a deep financial mess.
- Whenamitabhbachchan'scompanywasinafinancialmess
- In2003,Bigbannouncedhiscompany'srevival
- Bigb:Itoldyashchoprajithati'mbankrupt
- How'mohabbatein' Helpedbigb&Hepaidoffadebtofrs90crore
- Bigbhadalsopraisedpoliticianamarsinghforhelpinghim
- Bigb:Wehavebeenslammed;Wehavebeenhit
- Cuttopresent
ItallhappenedwhenBigB'scompany,AmitabhBachchanCorporationLimited(ABCL)wasplaguedbyfinancialdifficultiesfollowingBigB'sbankruptcy.Thecompanywasestablishedin1996andlaterfounditselfinadeepfinancialmess.In1999,ABCLapproachedBIFR(BoardofIndustrialandFinancialReconstruction)toberatedasasickcompany.
However,in2003,onhis61stbirthday,BigBdecidedtoannouncedthathe'srevivingthecompanyinanewavatar-ABCorpandhadsaid,"ManybusinessmenandfinancialadviserstoldmethatIshouldgiveupABCLandstartanewlife.ButsomewhereIfeltthatIowepeoplemoney.PeoplehadputfaithinABCLbecauseofmyname.Therefore,Icouldnotletitgoeasily."
Speakingofstrugglesbecauseofhisfailures,BigBhadtoldaleadingdaily,"Therewasaswordhangingonmyheadallthetime.Ispentmanysleeplessnights.Oneday,IgotupearlyinthemorningandwentdirectlytoYashChoprajiandtoldhimthatIwasbankrupt."(sic)
"Ihadnofilms.MyhouseandasmallpropertyinNewDelhiwereattached.YashjilistenedcoollyandthenofferedmearoleinhisfilmMohabattein.Ithenstarteddoingcommercials,televisionandfilms.AndIamhappytosaytodaythatIhaverepaidmyentiredebtofRs90croreandamstartingafresh,"hadaddedBachchan.
WhilesingingpraisesofAmarSingh,BigBhadsaid,"IamveryfortunatethatIhaveayoungerbrotherlikehim.HegavehishandtomeinthattroubleandintroducedmetotheManagingWorkerofSaharaGroupSubartaRoyandindustrialistAnilAmbani.Theyjoinedhandsnottoputmoney,buttheygavememoralsupportandstrength."
Inanotherinterview,BigBhadsaidthatafterABcorp'sresumption,hestartedsleepingandbreathingeasier.Hehadsaid,"TheoutstandingdebtofRs90crorewasnosmallsum.ButIbreatheeasiernow,Isleepeasieratnightnow.Wedon'twanttobetooproclamatory.Wehavebeenslammed,wehavebeenhit,wehavebeensubmerged.Wehavehadabadspell,aterriblespell,butwearereadytostartagain."
Ontheworkfront,AmitabhBachchanwaslastseeninTaapseePannustarrerBadla.HewillbeseennextinChehrealongsideEmraanHashmiandinAyanMukerji'sBrahmastra,inwhichhewillsharescreenspacewithRanbirKapoorandAliaBhatt.
- Lekhaka
founded by Bachchan. In Amitabh Bachchan. He later headed Amitabh Bachchan Corporation Ltd., an entertainment venture that specialized in film production and event management. The business was plagued by financial difficulties, however, and Bachchan eventually returned to performing.
Apr 21, 2021 · Abhishek Bachchan has remembered the time when father Amitabh Bachchan’s company ABCL went bust. He said his father called him to his study late at night, said ‘nothing was working’.
People also ask
What happened to Amitabh Bachchan Corporation Limited (ABCL)?
Who owns Amitabh Bachchan Corporation?
Did you know Amitabh Bachchan had a huge debt of Rs 90 crore?
Why did Amitabh Bachchan go bankrupt?
Feb 2, 2010 · In 1996, Amitabh Bachchan flagged off his first corporate venture, Amitabh Bachchan Corporation Ltd. (ABCL), with much fanfare. The vision was to become a Rs 1,000 crore entertainment and film...
