Industrialist Abhey Kumar Oswal, the owner of Oswal Greentech Limited passed away following a heart attack in Moscow on Tuesday. His son-in-law Naveen Jindal, chairman of Jindal Steel and Power ltd tweeted about this development.
Oswal’s body will be brought to India on Wednesday and is expected to be cremated in the evening, as said by Jindal – married to Shalu, Oswal’s daughter. Shalu, a noted Kuchipudi dancer is also the chairperson of National Bal Bhawan.
Emergence of Media Mogul
In 2013, there were talks of Jindal buying major stake in one
of the leading channels in Assam - NE TV. The talks would have been led by Oswal, who
anyway held 14.7% stake in NDTV. Oswal was also touted to be the next media
mogul as he was a co-promoter of News Nation, a Hindi television channel
launched in 2013.
Oswal’s elder son Pankaj owns Burrup Holdings Limited, he, along with his wife Radhika holds 65% of the company. Oswal’s younger son Shael Oswal is a businessman and a singer.
One of his noted songs is Soniye Hiriye, which catapulted him to instant fame.
When Oswal Was Arrested
The trader-turned-tycoon was arrested in 1990 by the
Enforcement Directorate under Foreign Exchange Regulation Act violations. He was charged with custom duty evasion – his arrest was a high-drama affair.
He belonged to the Ludhiana-based Oswal family, mostly known for their woollens. Abhey Oswal established Oswal Agro Ltd in 1979 and that spiked his status in the bracket of high-profile businessmen.