The company, Telefun, charged callers 14 rupees per minute for taking part in the quiz show, making them believe that it was being hosted by Bachchan on the lines of his famous Kaun Banega Crorepati quiz show, according to Pakistan Telecommunication Authority (PTA).
"We have issued a showcause notice to the company and asked them to stop running the show until the probe is completed and they respond to our notice," a PTA official said.
PTA said it had got several complaints about the show including from industry players and acted on them after holding a probe themselves.
The official said if the company was not able to satisfy PTA, its license would be cancelled and a fine will be imposed.
"Misinforming people and making them believe Amitabh Bachchan was hosting the show is a violation of their license agreement," he said adding the firm had also been warned for not maintaining standard child control procedures for its call-in services including friendship services.
"Children were allowed to call in without any mechanism to confirm if they had done so with the consent of their elders. This again is a violation of their license agreement," he said.
Bachchan is hugely popular in Pakistan and his quiz show on Star Plus had a big following in this country.