Throwback Tuesdays: do you know about the time when Amitabh Bachchan’s ABCL faced loss leading to bankruptcy?

A recent affidavit by Jaya Bachchan reveals that Amitabh Bachchan currently has about 120 crore in savings. But, do you know there was a time when his bank balance hit rock bottom, leading to bankruptcy. Well today’s throwback story will tell you everything about it.

 In 1996, Bachchan started a company called ABCL, seeking a loan of 22 crore from Canara Bank, with his house Prateeksha as collateral.

ABCL aimed for big projects, aiming for a value of 60 crore in 1996, with a future goal of 1000 crore by 2000. But things went downhill as projects failed to meet expectations. Losses mounted to 70 crore, with an additional 22 crore loan. Bachchan almost had to sell Prateeksha to cover debts.

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Several projects contributed to ABCL’s downfall, including:

• Hosting the Miss World Pageant led to financial strain when it failed to attract attention.
• Bachchan’s music album “Aby Baby” incurred losses despite some songs gaining popularity.
• The film “Mrityudaata” (1997) failed to recoup its budget, adding to losses.
• “Saat Rang Ke Sapne” (1998) also underperformed at the box office.
• “Naam Kya Hai,” a film that never got released, added to the mounting debt.

Kaun Banega Crorepati (KBC) offered relief in 2000, but it was “Mohabbatein” by Yash Chopra that truly rescued Bachchan from financial and professional ruin.

Big B currently enjoys a net worth of above 200+ crore, according to recent declarations made by Jaya Bachchan.