Financial Daily from THE HINDU group of publications
Monday, Oct 13, 2003
Financial Daily from THE HINDU group of publications Monday, Oct 13, 2003 |
|
|
|
|
|
Corporate
-
Outlook AB Corp re-launch ends up as glittering Bollywood gala Our Bureau
Mumbai , Oct. 12 IT was meant to be a corporate resurrection for Mr Amitabh Bachchan's AB Corp. But Saturday's event at Mumbai's Intercontinental Grand to re-launch the company ended up as a glittering Bollywood gathering, complete with the mahurat shot of `Ranveer', AB Corp's first film in its new avatar. AB Corp, then ABCL, was referred to the Board for Industrial and Financial Reconstruction and was declared sick in 1999. The company ended up with a debt of Rs 90 crore. ``Somewhere we went wrong and failed with a lot of mistakes,'' Mr Bachchan told the huge gathering comprising an array of Bollywood personalities and the media. ``I was left with nothing except my house in Mumbai and an asset in Delhi. Nevertheless, it was my moral right to pay back my dues,'' he said reminiscing the events that led him to Mr Amar Singh, who in turn led him to Mr Subrata Roy, Chairman, Sahara Group, and Mr Anil Ambani, Vice-Chairman and Managing Director, Reliance Industries Ltd. ``They stood by me not to put money but to support me,'' he said. ``I was left with nothing except my ability to act. One day, I just walked across my house to Mr Yash Chopra's house and told him that I am broke and I need a role in his next film. He took a second to decide and that's how I ended up being cast in Mohabattein,'' he said. Thereafter, Mr Bachchan was able to pay off the dues as assignments came his way, starting with Mohabattein. Industry sources said AB Corp is making a comeback with film production as well as television software. Saturday's event did not reveal any plans about AB Corp's future. It was more an occasion to felicitate Mr Bachchan on his 61st birthday. ``Celebrations will have to wait as I lost my father early this year,'' he said. Dressed in a black Indian coat, Mr Bachchan personally welcomed his guests. Apart from Mr Ambani, the leading corporate chief who was present at the function, was Mr Adi Godrej, Chairman, Godrej Group. Diamond exporter and film financier, Mr Bharat Shah arrived on the scene to be mobbed by the waiting television channels. Other leading guests included Bollywood stars of yesteryears - Dilip Kumar, Saira Banu, Dharmendra, Ranjit and Bindu. Film makers, Prakash Mehra, Yash Chopra, Govind Nihalani, actors Govinda, Ritesh Deshmukh, Sanjay Dutt, Danny Denzongpa and Satish Shah; singers Pankaj Udhas, Udit Narayan and, Hariharan were among those present. Away from the spot light was the South Indian actress Revathi and her husband Suresh Menon.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|