The Shahenshah of Bollywood, Amitabh Bachchan, was struggling with a huge debt at a time in his life when his story of struggles inspired everyone towards self-reliance and struggle. In those days, when his financial condition was fragile and the banks were almost on the verge of seizing his houses, he stood at the most difficult point of his life. He has often mentioned this in many of his interviews.
Amitabh Bachchan had a debt of Rs 90 crore due to the bankruptcy of the actor’s company during the 1990s. If things got worse, he could even lose his home because all his assets were “tied” to the company. In a throwback conversation with journalist Veer Sanghvi, the 80-year-old recalled his old struggle days. After Yash Chopra offered him Mohabbatein, the Sholay actor spoke about how he overcame the ordeal.
In an old interview with Veer Sanghvi, the host asked Bachchan if his house was about to be confiscated, the actor said, “Yes, actually, it was confiscated. All property and all property was confiscated. So when you sign the personal guarantee, you are personally liable to pay it, so approximately Rs 90 crore had to be paid back. The Sholay actor said there were “about 55 legal cases” and “every day creditors would come to the door, very embarrassing, very humiliating.”
Bachchan said that people who were previously very excited to be associated with his company and him suddenly became “very hostile, very insulting and rude.” “Overall, it’s not a very good picture,” he said.
Discussing his financial obligations, Bachchan remarked, “The substantial portion was owed to government entities such as Prasar Bharati and Doordarshan, a significant amount was tied up with banks, financial institutions, and personal loans. Additionally, some of the debt was incurred due to the actions of Jaya, and I had personally provided the guarantee for it.” ” Bachchan said that at the time, he was financially misadvised and told that nothing would happen, which is why he signed some personal guarantees.
It was in the midst of this storm that Amitabh Bachchan found a lifeboat in the form of Yash Chopra, as the late director offered him a role in Mohabbatein. The success of the television show Kaun Banega Crorepati also helped get his career back on track.