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The family dispute in the Oswal Group has deepened with Pankaj Oswal serving a legal notice seeking to freeze all assets, including bank accounts, properties and shares owned by the late businessman Abhey Oswal. Pankaj Oswal is the eldest son of the late businessman.
Sydney : Amid a takeover tussle with his mother for control of Oswal Greentech and Oswal Agro Mills, Pankaj Oswal has been ordered by authorities in Australia not to leave the country due to a taxation case involving millions of dollars, reports PTI.
On April 2, the directors of Oswal Agro Mills and Oswal Greentech met at the 7th floor of Antriksh Bhawan, a high-rise in the Connaught Place area of New Delhi. On the agenda was the appointment of a new director and chairman: Aruna Oswal. These meetings were called after Aruna's husband and the chairman of the two companies, Abhey Oswal, had died in Moscow four days ago. The mood was sombre, the meetings were short.
A bitter succession battle has broken out in the Oswal family after the death of Abhey Kumar Oswal last month. Allegations and counter allegations are flying thick and fast as Oswal's eldest son, Pankaj Oswal, has challenged his mother's appointment to the board of group companies - Oswal Greentech and Oswal Agro Mills. On the other hand, the companies have filed a police complaint against him for alleged stealing of documents.
BS REPORTER | A statement was issued on behalf of the former that a police case had been filed against Pankaj Oswal April 9, 2016 Last Updated at 00:39 IST
Sanjeeb Mukherjee & N Sundaresha Subramanian | New Delhi April 8, 2016 Last Updated at 00:35 IST
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