I think you guys are right. I did cut off the backbulbs (3 to be exact)
and i treated with bactericide/fungicide. So far it seems that the rot has stopped and there are some new growths coming along but very, very slowly.
I was told it could also be from too much fertilizer and my only explanation is that the charcoal could be the problem here since it retains salts that can build up to high levels overtime if one doesn't flush with water regularly.
I'm taking both into consideration and taking careful measures to save my baby.
Thanx so much for all the info..... the plant seems to have a chance now.