In a revival proposal submitted to operating agency the Industrial Development Bank of India (IDBI) last week, the company has said it will pay off the liabilities in six annual instalments, starting from the second year onwards. The promoters will bring in the money needed for the instalments, company sources said.

ABCL has also proposed to rake in more reveues by increasing the production volumes of its audio and video cassettes business, which produces 25,000 cassettes per annum.

Though ABCL made huges losses after a string of films starring promoter Bachchan himself bombing at the box office, it plans to produce at least two films every year, which can bring in profits.

IDBI will take a view on the matter over the next fortnight after seeking the views of major lenders Canara Bank and Allahabad Bank. The Board for Industrial & Financial Reconstruction (BIFR) will take a decision on the company's fate at its next hearing based on IDBI's report.

Canara Bank dragged ABCL to court in April this year for non-payment of dues worth Rs 10 crore. The bank also threatened to attach Bachchan's sprawling Bunglaow in Juhu, Mumbai, invoking the gurantor clause. ABCL also owes Rs 4 crore to Allahabad Bank, and the rest of the liabilities is in the form of short-term deposits.

Canara Bank's efforts to recall the outstandings from ABCL could not yield results, as the company went to the BIFR by then. Under the Sica provisions, legal proceedings would lose validity after a company is registered with the BIFR. ABCL was referred to the BIFR on March 22 shortly after the appointment of a court receiver for taking possession of the company's assets.

ABCL got into trouble while managing the Miss World pageant in 1996. The company was unable to market the event to sponsors and advertisers and defaulted to Prasar Bharati, according to entertainment industry sources.

Bachchan was also forced to mortgage his residence to the Sahara group to clear his dues.