Amitabh Bachchan to revive ABCL

"Now that most of his debts from earlier are clean Amitabhji is very keen to revive ABCL. Adlabs has bought a huge number of shares in ABCL. This is one of the most expensive deals ever to be signed in Bollywood. The agreement between ABCL and Adlabs suggests that once Big B wraps up all his current projects all future projects starring him will be co-produced by ABCL and Adlabs. Four films have already been short listed to go on the floors," says the source.

Although no official announcement has been made, the sources say that various directors have already been approached. "Discussions are on with quite a few directors like Shoojit Sircar, Sujoy Ghosh and Vivek Sharma about working with ABCL," says our source, "While it isn't yet clear whether Aishwarya and Abhsishek will also be a part of the films that will be co-produced by ABCL, one thing is for sure that it is the kids who have encouraged their father to revive the production house."

About ABCL

Bachchan turned producer during his temporary retirement period and setup Amitabh Bachchan Corporation, Ltd. (A.B.C.L.) in 1996. Soon after the company was launched in 1996, the first film produced by the company was Tere Mere Sapne which did quite badly at the box office. And that wasn't their only failing. Most films that came out of the ABCL label performed badly at the box office. Thereafter ABCL ventured out of films and became the main sponsor of the The 1996 Miss World beauty pageant only to lose millions of rupees in it. Soon enough came lawsuits for non payments and rumours of financial irregularities. The company went into administration and was later on declared as a failed company by Indian Industries board. Financially in a bad state and owing huge amount of money to his creditors, Bachchan came back to acting full time. From hosting Kaun Banega Crorepati to endorsing numerous products, the Big B worked round the clock to pay back the millions of rupees he owed to his investors.