Saturday, 7 January 2012

Amitabh Bachchan Biograph/AmitabhBachchanPictures/Coolie/politics/Slump and retirement

Producer and acting comeback 1996–99

Bachchan turned producer during his temporary retirement period, setting up Amitabh Bachchan Corporation, Ltd. (A.B.C.L.) in 1996, with the vision of becoming a 10 billion rupees (approx 250 million $US) premier entertainment company by the year 2000. ABCL's strategy was to introduce products and services covering the entire section of the India's entertainment industry. Its operations were mainstream commercial film production and distribution, audio cassettes and video discs, production and marketing of television software, celebrity and event management. Soon after the company was launched in 1996, the first film was produced by the company. Tere Mere Sapne failed to do well at the box office but launched the careers of actors such as Arshad Warsi and South films star Simran. ABCL produced a few other films, none of which did well.
In 1997, Bachchan attempted to make his acting comeback with the film Mrityudata, produced by ABCL. Though Mrityudaata attempted to reprise Bachchan's earlier success as an action hero, the film was a failure both financially and critically. ABCL was the main sponsor of the 1996 Miss World beauty pageant, Bangalore but lost millions. The fiasco and the consequent legal battles surrounding ABCL and various entities after the event, coupled with the fact that ABCL was reported to have overpaid most of its top level managers, eventually led to its financial and operational collapse in 1997. The company went into administration and was later declared a failed company by Indian Industries board. The Bombay high court, in April 1999, restrained Bachchan from selling off his Bombay bungalow 'Prateeksha' and two flats till the pending loan recovery cases of Canara Bank were disposed of. Bachchan had, however, pleaded that he had mortgaged his bungalow to Sahara India Finance for raising funds for his company.
Bachchan attempted to revive his acting career and had average success with Bade Miyan Chote Miyan (1998), and received positive reviews for Sooryavansham (1999) but other films such as Lal Baadshah (1999) and Hindustan Ki Kasam (1999) were box office failures.

No comments:

Post a Comment