Blast From The Past: Amitabh Bachchan RECALLS The Time He Was Under Debt And Creditors Came Knocking On His Door!
Bachchan has frequently recalled how, with all of his assets tied to the business, he was also in danger of losing his home. He owed 90 crore rupees in debt as a result.
BollywoodMDB Team | Updated On: May 12, 2023 08:01 PM IST
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One of the biggest actors in Hindi films is Amitabh Bachchan. The legendary actor is frequently referred to as the Shahenshah of Bollywood. The megastar, however, faced some challenges in the 1990s when his company failed and creditors began knocking on his door.
Bachchan has frequently recalled how, with all of his assets tied to the business, he was also in danger of losing his home. He owed 90 crore rupees in debt as a result.
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In an old interview, Amitabh Bachchan was asked whether his house was going to get seized. As reported the four-times National Award-winning actor said, “Yes, it was, in fact, attached. All assets and all properties were attached. So when you sign a personal guarantee, then you are personally accountable to pay it, and so there were roughly Rs 90 crore to be paid back.”
Amitabh Bachchan continued, "There were creditors on the door every day, very embarrassing, very humiliating," and "There were about 55 legal cases." He said the people he worked with were eager to join forces with his business. They "became very humiliating and rude" when he abruptly turned hostile towards them. Overall, not a very good image.
Shehenshah provided additional information regarding his debt, stating that "a lot of it was with government institutions like with Prasar Bharti, Doordarshan, lot of it with banks, financial institutions, personal loans, and some of it were mistakenly guaranteed by Jaya and me personally." Sr Bachchan stated at the time, he was ill-advised financially and was promised nothing would ever happen, which is why he ended up giving a few personal guarantees.
Amitabh Bachchan discovered Yash Chopra as a lifeboat in the midst of this storm when the late filmmaker offered him a role in ‘Mohabbatein’. His career was able to take off again because to the popularity of the television show ‘Kaun Banega Crorepati’.
