How Amitabh Bachchan faced financial troubles, and emerged stronger than ever

Amitabh Bachchan becomes an octogenarian today. The megastar has been entertaining us for more than 50 years. And at this age, he remains as active as he ever was. Debuting in 1969, he has been in some of the biggest films in Hindi cinema. It is unheard of for any actor to be active for more than half a century. Although it is a glorious career and glorious life, Big B's life as an actor has undergone turbulence just like most of us. There were career fluctuations, financial troubles, and controversies. But he bounced back like a Shahenshah and returned to rule our hearts and our cinemas.

Let's explore the financial issues that plagued his company Amitabh Bachchan Corporation Ltd. and almost sank Amitabh the brand.

Also Read:Amitabh Bachchan at 80: The different shades of Big B

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Background

In the latest 1980s, Amitabh's star power had been fading. He was still a respectable name, but that aura that carried him through the 70s and until the mid-80s was dying. His 'Shahenshah', in which he played a moonlight-as-a-crime-fighter character like Bruce Wayne/Batman, was a success, but it appeared to be a last laugh rather than a resurgence. Newer stars had appeared on the scene, and it seemed Amitabh could barely carry a movie as a lead actor. He was simply too old for that.

In the mid-1990s, Amitabh was on a hiatus from acting. He turned producer and created Amitabh Bachchan Corporation, Ltd. (ABCL) in 1996. ABCL was not just a film production company, however, as it had a bigger scope within the Indian entertainment industry like film production and distribution, marketing and promotion of films, celebrity and event management, and so on.

Also Read:Amitabh Bachchan: Legend and Legacy

Failures

But the company appeared to be a failure right from the beginning. 'Tere Mere Sapne' (1996) was the first film to have come out of the stables, but it was only a lukewarm success. ABCL also brought the Miss World beauty pageant in the same year. The event was held with much fanfare in 1996, but was a fiasco and lost a lot of money for the company.

Next year, Amitabh returned to acting with Mrityudata, but it was an utter failure, further weakening the Big B brand. The successive failures led to the company eventually collapsing in 1997. The Indian Industries board declared the company failed. The situation was so dire that the Bombay High Court got involved. It barred Amitabh from selling off his bungalow 'Prateeksha' until he could pay off his loans.

In a 2013 interview, Amitabh explained that he had a debt of Rs 90 crore then. He spoke in detail the travails he faced while speaking to Mail Today, “I paid back one and all, including Doordarshan. When they asked for the interest component, I did commercials in lieu for them. I can never forget how creditors used to land at our door, be abusive, threatening and demanding, and worse still, when they came for ‘kudkee’ at Prateeksha, our residence,” he said.

Comeback

If there is one thing to consider about Big B, it is to never underestimate him. When all seemed lost in the late 1990s, he recovered and reinvented, and orchestrated one of the Hindi film industry's biggest comebacks.

Also Read:Amitabh Bachchan @80: A look back at Big B's biggest achievements and failures

In the same Mail Today interview, Amitabh also spoke about when his fortunes began to turn for the better. “Without a doubt that was one of the darkest moments in my 44-year professional career. It made me sit and think, I looked at the options before me and evaluated different scenarios. The answer came pat - I know how to act. I got up and walked to Yashji (Chopra, filmmaker), who stayed behind my house. I implored him to give me work. That is when the worm turned, he gave me Mohabbatein.," he said.

But it was not just 'Mohabbatein' that gave Amitabh's career a new life. It was his television debut as the host in 'Kaun Banega Crorepati', the Indian version of the international game show franchise 'Who Wants to Be a Millionaire?'. Amitabh had a superb command of both English and Hindi and exuded a confident personality. The show was a runaway success, fortifying the Amitabh Bachchan brand and again making him a name to be reckoned with. He emerged from his difficulties stronger than ever.