Amitabh Bachchan was bankrupt in 90s with debts over Rs 90 crore. Yet he refused help from Dhirubhai Ambani, reveals producer

By the end of the 1990s, Amitabh Bachchan found himself facing one of the most challenging chapters of his life. After dominating Indian cinema for decades, the megastar encountered severe financial distress when his ambitious venture, Amitabh Bachchan Corporation Limited, collapsed and was officially declared insolvent in 1999. The failure of ABCL pushed him into deep monetary uncertainty. Yet, despite the scale of the crisis, Bachchan chose not to seek or accept financial assistance from friends, colleagues, or industry peers, relying solely on his own resolve to recover.

Rumi Jaffery on Bachchan’s Integrity During Crisis

Renowned writer-director Rumi Jaffery, who collaborated with Bachchan on films such as Bade Miyan Chote Miyan, later shed light on the actor’s conduct during this turbulent phase. Speaking on a public platform, Rumi explained that even when ABCL was suffering massive losses, Bachchan refused to borrow money or accept external support. According to him, Bachchan invested every rupee he had earned over a lifetime into the company and entrusted its operations to then chief executive Sanjiv Gupta. Rumi recalled that ABCL was among the earliest attempts at creating a corporate-style production house in Hindi cinema, complete with formal offices, structured departments, and long-term planning.

The Vision Behind ABCL and Early Optimism

ABCL marked a shift in how films and entertainment ventures were approached in India. Rumi remembered witnessing conference rooms, executives dressed in formal attire, and a system that mirrored international studios. The company began by onboarding established talents like Sachin Pilgaonkar and Joy Augustine as directors, while Rumi himself was brought in as a writer. At the time, there was widespread optimism that ABCL would redefine the Indian entertainment landscape. However, Rumi later reflected that while the vision was grand, the absence of the right leadership team played a crucial role in the company’s downfall.

Fighting Back With Dignity and Determination

Despite the collapse, Bachchan did not allow adversity to define him. Rumi emphasized that Bachchan’s resilience stood out above all else. Through relentless effort, the actor repaid every outstanding debt using income generated from hosting Kaun Banega Crorepati and from returning to films with renewed intensity. His self-respect and refusal to take shortcuts, Rumi noted, revealed the strength of his character and his deep belief in standing on his own feet, regardless of circumstances.

Dhirubhai Ambani’s Gesture of Support

During this financially fragile period, Bachchan was approached with an extraordinary offer of help. Industrialist Dhirubhai Ambani, upon learning of Bachchan’s difficulties, instructed his younger son Anil Ambani, who shared a close friendship with the actor, to offer financial assistance. The sum proposed was reportedly substantial enough to resolve Bachchan’s troubles instantly. Bachchan later recalled being deeply moved by the generosity and concern shown by the Ambani family, even though he ultimately declined the offer.

Choosing Self-Reliance Over Easy Relief

Bachchan decided that he would overcome the crisis without accepting the money. Later, Dhirubhai Ambani publicly expressed admiration for Bachchan’s perseverance, acknowledging that although the actor had fallen, he had risen again through sheer effort. Bachchan remembered these words as being far more meaningful than any financial support. For him, the respect and faith shown in his ability to recover independently held greater value than material assistance.

Rumi Jaffery and Bachchan’s Continued Collaboration

Even after ABCL’s collapse, Bachchan continued to collaborate with Rumi Jaffery. Of Rumi’s four films as a director, Bachchan played pivotal roles in two projects released years later, reflecting the enduring professional bond and mutual respect between the filmmaker and the actor.

Birth and Expansion of ABCL

Amitabh Bachchan Corporation Limited was officially launched in January 1995, though its foundation had been laid a year earlier. The company emerged during a phase when Bachchan had announced a partial withdrawal from acting.

Apart from the delayed release of Insaniyat, he stayed away from films for nearly five years. During this break, he focused on building ABCL, which ventured into film production, event management, and distribution. One of its earliest television successes was the sitcom Dekh Bhai Dekh, produced by Jaya Bachchan, who also served on the company’s board.

Early Successes and Expanding Ambitions

ABCL’s first feature film, Tere Mere Sapne, released in 1996, proved to be commercially successful and introduced actors like Arshad Warsi and Simran to mainstream cinema. The company aimed to cover every segment of the entertainment industry, from films and television software to music formats and celebrity management. Among its most high-profile projects was the organization of the Miss World pageant in Bangalore in 1996, as well as the production of the film Major Saab.

Controversy, Mismanagement, and Collapse

However, behind the ambitious expansion lay serious structural issues. Financial instability plagued ABCL, with mismanagement widely attributed to the company’s leadership at the time. The Miss World event, while high-profile, sparked widespread controversy and added to the financial strain when dues remained unpaid. By 1999, ABCL declared bankruptcy, leaving Bachchan facing lawsuits and debts amounting to nearly Rs 90 crore. Creditors, including major institutions, pursued legal action, forcing the company to seek protection under financial reconstruction laws.

A Comeback Built on Hard Work

Rather than shutting down permanently, Bachchan committed himself to clearing the liabilities. His return to prominence as the host of Kaun Banega Crorepati in 2000 marked the turning point. The show not only revived his career but also enabled him to systematically repay debts. Bachchan’s journey from collapse to recovery remains one of the most powerful examples of resilience, dignity, and self-earned redemption in Indian entertainment history.