Perth’s Taj Mahal mansion up for sale

Western Australia’s so-called Taj-Mahal-on-the-Swan, a mansion built by well-known entrepreneur, Pankaj Oswal, may possibly be up for sale after financial difficulties put Oswal’s fertilizer company in receivership.

The mansion is located at the suburb of Peppermint Grove with a view of the Swan River. It is scheduled to be done by 2012 complete with temple, a gym, an observatory and parking space enough for 17 cars.

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PPB Advisory was assigned as the receiver for Burrup Fertilizers and Burrup Holdings by the ANZ Banking Group. The bank is company invested appointed receiver ANZ, owed hundreds of millions of dollars on the project, has claimed there is evidence of financial irregularities in the business.

Oswal spokesperson, Chris Codrington, said the property may be sold if a good offer comes along. He said: "It's not officially on the market, there's been no real estate agent appointed but they've obviously had a couple of nibbles; one would assume people interested in the block rather than taking the house."

"They are under pressure both in terms of the media microscope and obviously the fact that Burrup's gone into receivership," he said."It's been caused by a fight between the shareholders but it has obviously put them under some pressure."

The mansion carries no mortgage and was not part of the receivership ordered for the fertilizer company. The Oswals also has stakes in an overseas chain of sustainable fast-food restaurants.

"I guess at the moment they are just considering their position, letting the dust settle," Codrington added.