The biggest lawsuit of Australia has revealed the privileged life of Radhika Oswal, the wife of Indian businessman Pankaj Oswal.
The couple is pursuing ANZ bank for $2.5 billion in damages over the sale of their stake in Burrup Holdings, trial for which is going on in the Supreme Court of Victoria.
Her barrister Peter Wallis said she stayed at home and did not have any involvement in business. She would get money whenever she asked her husband for it.
Radhika and Pankaj Oswal Source: News Corp Australia
“It was perhaps an old fashioned and certainly unusually privileged upbringing, but she was born into money,” said Mr. Wallis.
He told the court that Radhika believed the Oswals had the right to access substantial funds from Burrup Fertilisers because they had a majority of ownership of the parent company.
The couple is alleged to have spent $8 million for Radhika’s vegetarian restaurant chain in London and New York, even when she had no prior experience in running a business.
Source: News Corp Australia
It has been alleged that Pankaj Oswal misappropriated $150 million of Burrup funds for the couple’s personal use on luxury cars, yachts and a private jet besides the unfinished “Taj Mahal on the Swan River” Perth mansion.
