When Amitabh Bachchan got abusing, threatening by creditors and bankers (Read deeds)

Amitabh Bachchan once recalled his bankruptcy days and how he defeated it; read on

Richa Barua

Bangalore, First Published Feb 28, 2021, 4:17 PM IST | Last Updated Feb 28, 2021, 4:18 PM IST

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Amitabh Bachchan is currently in the news for not being unwell and going for surgery. Amitabh made a post on February 27 and shared a health update with all of his fans. Through a blog post, the superstar informed he would be undergoing surgery soon.

On Amitabh Bachchan’s official blog, he wrote, “medical condition...surgery...can’t write.” He made a tweet and wrote exclamation and question marks. Big B tweeted, “T 3827 - !!!!!! ?????” Sr Bachchan’s made another tweet where he spoke about something growing up more than needed and how it needs to be cut. He tweeted in Hindi, “T 3826 - कुछ ज़रूरत से ज़्यादा बढ़ गया है ; कुछ काटने पर सुधरने वाला है ;जीवन काल का कल है ये , कल ही पता चलेगा कैसे रहे वे”

A few years ago, Amitabh had had to file for bankruptcy after his company, ABCL, failed to pay interest or repay debts. 

In an old interview with Mail Today, Big B spoke about how and how he emerged from the financial crisis. He also revealed who help him coming out of the crisis. 

It was reported that Amitabh had taken a loan of Rs 22 crore from Canara bank, to expand his company (ABCL) and business. It was mentioned that ABCL had a net worth of Rs 60.52 crore, and it made a profit of around Rs 15 crore in the first year.

But the company went into a loss of Rs 70.82 crore, and the company was not able to pay back. The bank seized hold of two of Bachchan's bungalows, valued at Rs 40 lakhs each and some stocks too, which were kept as a guarantee.

That time there were no movies, no ads, for Bachchans, he said, "There was a sword hanging on my head all the time. I spent many sleepless nights. One day, I got up early in the morning and went directly to Yash Chopraji and told him that I was bankrupt. I had no films."

"My house and a small property in New Delhi were attached. Yashji listened coolly and then offered me a role in his film Mohabattein. I then started doing commercials, television and films. And I am happy to say today that I have repaid my entire debt of Rs 90 crore and am starting afresh," Big B had told in an interview.

Not just Yash JoharChopra, Anil Ambani and Amar Singh also came out for the Bachchans. "I am very fortunate that I have a younger brother like him. He gave his hand to me in that trouble and introduced me to the Managing Worker of Sahara Group Subarta Roy and industrialist Anil Ambani. They joined hands not to put money, but they gave me moral support and strength," Amitabh added.

Big B further said, "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."

"We all go through these phases; peaks and troughs are what life is all about. I have been in a situation where I was at the lowest ebb in my life - professionally, commercially and personally. In order not to give up the moment, I was operating on the principle that the Corporation (ABCL, or Amitabh Bachchan Corporation Ltd) must not die, I had to ensure that I paid back every sow that I owed to a vast army of people. I felt it wasn't ethically right not to return the money," Bachchan told Mail Today.