Pankaj Oswal told not to leave Australia by tax authorities

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.

The Australian Taxation Office (ATO) has issued Pankaj Oswal and his wife with Departure Prohibition Orders (DPO) over Mrs Oswal's unpaid tax bill, according to reports. When contacted, Oswal told PTI that he had gone to Australia voluntarily with his wife to settle an ongoing case.

"This is just another show of bullying and muscle power," Oswal said. Stating that he is yet to get the reason for the DPO, he said: "The issuance of DPO is merely a tactic to intimidate us." "The matter with ATO relates to alleged claims of 190 million AUD owned by Radhika Oswal. Let me state here that as part of pre-trial hearings, independent experts have given their testimony that the claim against Radhika cannot be for more than 32 million AUD which itself is a contested amount that we believe to be zero," he added.

As per reports, the ATO raised the tax bill after Pankaj Oswal transferred his shares in Burrup Fertiliser, a company started by him, to his wife in 2007.

Earlier this month, a takeover battle had erupted in the Oswal family, which is estimated to have assets worth Rs 800 crore, after the death of Abhey Oswal, with both Pankaj Oswal and his mother Aruna Oswal claiming ownership of the two group companies.