Amar Singh-Amitabh Bachchan rift widens!

Last Updated: Jul 28, 2011, 08:11 AM IST

Spicezee Bureau

New Delhi: People, who once used to swear by Amar Singh and Amitabh Bachchan’s friendship, will now have to reconsider their stand on the Amar-Amitabh equation.

A couple of days back, the Bollywood megastar had quit the board of Amar Singh promoted Energy Development Company Ltd. And now in retaliation, the expelled Samajwadi Party leader has resigned from the actor`s production company, A B Corporation, further fuelling speculation about strains in their ties.

Explaining the reason to reporters why he has resigned, Singh said, “I have resigned as executive chairman of EDCL due to time constraint.... Since I have resigned from the post of my own company, I thought it was not prudent to continue as vice chairman of A B Corporation, therefore I have stepped down from that post as well.”

Singh put his resignation paper exactly two days post Amitabh’s decision to quit his “once close” friend’s firm.

"He has attended two or three meetings of EDCL in the past ten years," Singh said.

The Rajya Sabha MP, however, hastened to add that "no significance should be attached" to the developments.

Bachchan`s wife Jaya had refused to leave the Samajwadi Party after Singh was expelled. She was recently appointed as member of the party`s national executive.

When asked about the statement of the Samajwadi Party chief defending him in the cash-for-vote scam, Singh said he has not heard about it. When informed about Mulayam Singh Yadav`s observations, Singh said, "I don`t want to read about it. I don`t want to hear about it."

All the promoters, including Singh and his wife Pankaja Kumari Singh, together hold 56.36 per cent stake in EDCL, which is currently valued at about Rs 100 crore.

In the past, Bachchan has been a shareholder - initially as promoter shareholder and later as public shareholder - in the company with 10 lakh shares.

As per the shareholding pattern disclosed by the company, Bachchan`s 10 lakh shares was equivalent to a 3.64 per cent stake at the end of June, 2009.

It looks like Singh and Bachchan’s friendship is no longer `Amar`!

(With PTI inputs)