Bollywood has often seen several celebs grappling with fame, success and money. While few manage to come out of it, few drown amid the loans and credits.
Bankruptcy has never been new to Bollywood. But, Amitabh Bachchan did manage to bounce back out of it and how! Let's take a look at what led to his bankruptcy
ABCL or Amitabh Bachchan Corporation Ltd was made with an aim to give a platform to the diverse cinema and churn out some big hits. Made with a net worth of Rs 60.52 crore, the company made a profit of around Rs 15 crore in the first year. And right when things were beginning to spike, a series of failed projects led the company into a loss of Rs 70.82 crore.
There were discrepancies in stocks, failing to maintain credit account, failing to pay the interest, transacting with other banks over-stepping the agreements were some of the reasons that were soon highlighted.
Miss World Show: ABCL had organised a gala Miss World Show in Bangalore. It was from here that the financial problems became loud and clear when the company couldn't even pay the employees and the people involved. The show also failed to generate the buzz and moolahs it was expected to.
Mrityudata: The film was a massive disaster and cost them a huge loss.
Saat Rang Ke Sapne: Despite the presence of top stars and Priyadarshan, the film failed to do well, which further aggravated the company's financial crisis.
Aby Baby, the music album: The album managed to strike a chord with the audience but failed to generate enough cash.
Naam Kya Hai: The film starring Mukul Dev never got to see the light of the day.
Amitabh Bachchan had revealed that he decided to overcome the obstacle by doing what he does best – that is act. He went to Yash Chopra and told him that he needed the project as he was bankrupt. Yash was working on Mohabbatein at that time and decided to give the role to him, which turned out to be one of the most iconic roles of his career and in the history of Bollywood.