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Did Amitabh Bachchan go bankrupt?
Did you know Amitabh Bachchan had a huge debt of Rs 90 crore?
What happened to Amitabh Bachchan Corporation Limited (ABCL)?
Why did Amitabh Bachchan lose his money?
Amitabh Bachchan was on the brink of bankruptcy in 1999 when his venture, Amitabh Bachchan Corporation Ltd (ABCL), faced major losses. The failure of the production, distribution and...
- 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
Oct 11, 2022 · Did you know there was a time when Amitabh Bachchan was on the brink of bankruptcy and in a debt of Rs 90 crores? Even at that time, Big B refused to take money from Dhirubhai Ambani. Creditors used to land at his door - abuse, threaten and demand money, Amitabh Bachchan had himself revealed in 2013 interview with Mail Today.
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Dec 28, 2022 · Back in the 1990s, Amitabh Bachchan had started his business venture, Amitabh Bachchan Corporation Limited. However, the business went bankrupt, leaving Big B in a lot of debt. During an event held in 2017 to mark 40 years of Reliance Industries, Bachchan opened up about the bankruptcy and said:
Oct 9, 2022 · For those unversed, Amitabh Bachchan was on the brink of bankruptcy in 1999 when his venture, Amitabh Bachchan Corporation Ltd (ABCL), faced major losses. The failure of his company plunged him...
Oct 11, 2022 · Amitabh Bachchan faced one of the most difficult times in his life when he faced bankruptcy in the late 1990s. Despite the financial crunch, he refused help from Dhirubhai Ambani.
Aug 4, 2023 · Amitabh Bachchan had gone bankrupt, his company ABCL had massive losses that he couldn't incur. However, he bounced back with Kaun Banega Crorepati.
