Pankaj Oswal

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Pankaj Oswal is an Indian businessman. He was the chairman and managing director of Burrup Holdings Limited.[1] It is a Perth-based company and one of the world's largest liquid ammonia production companies.[2] Oswal amassed a fortune of over A$3 billion, making him one of Australia's richest people.[3]

Personal life[edit]

Pankaj grew up in India and studied at Manipal Institute of Technology. After graduating, he worked for several of his father's enterprises.[4] He is married to Radhika Oswal; the couple has two daughters.[5]

Controversy[edit]

Pankaj and his wife were accused for embezzling upwards of $150 million from Burrup Holdings to fund a lifestyle of private jets, yachts, luxury cars, and building a 'Taj Mahal' on the Swan River in Perth. All lawsuits came to an end for the Oswals in 2016.

In August 2016, Pankaj and Radhika Oswal settled their high-profile lawsuit against ANZ bank over their Burrup Fertiliser business.

The Oswals had accused ANZ staff of acting in a bigoted manner towards them, emphasising their background as Indian nationals.[6] They had also claimed ANZ's former chief risk officer Chris Page had used physical force by putting Mr Oswal in a headlock to force them to sign a guarantee over their shares that led to the forced sale of their stake.[7] ANZ chief legal counsel was also accused of telling Mrs Oswal she and her husband would go to jail and their children would be orphans if they did not sign the guarantee.[8]

ANZ paid an undisclosed amount to Mr and Mrs Oswal for taking over Burrup Fertiliser Business without giving due consideration.[9]

References[edit]

  1. ^ http://www.chemicals-technology.com/projects/burrup_fert/
  2. ^ "About Burrup Holdings Ltd". Ibisworld.com.au. 31 March 2009. Retrieved 4 January 2012.
  3. ^ Sarah-Jane Tasker (7 June 2008). "Oswal family failures outweighs fertiliser success". The Australian. Archived from the original on 12 September 2012. Retrieved 4 January 2012.
  4. ^ Business Information Agency. ASIA Major Manufacturers. Business Information Agency. p. 220 item 4003. ISBN 978-1-4187-8517-8. Retrieved 4 January 2012.
  5. ^ Victoria Laurie (7 June 2008). "Meet the Oswals". The Australian. Retrieved 4 January 2012.
  6. ^ Danckert, Sarah (18 August 2016). "Oswals, ANZ agree to in principle settlement". Retrieved 19 August 2016.
  7. ^ Danckert, Sarah (18 August 2016). "Oswals, ANZ agree to in principle settlement". Retrieved 19 August 2016.
  8. ^ Danckert, Sarah (18 August 2016). "Oswals, ANZ agree to in principle settlement". Retrieved 19 August 2016.
  9. ^ Danckert, Sarah (18 August 2016). "Oswals, ANZ agree to in principle settlement". Retrieved 19 August 2016.

External links[edit]