Business Magnate Abhey Oswal Passes Away

| } March 30 , 2016 , 17:50 IST
Coming from a Ludhiana-based family known for its woollens business, Abhey Oswal passed away on Tuesday at the age of 67. According to his son-in-law, Naveen Jindal, Oswal suffered a massive heart stroke and his body will reach India Wednesday night and will be cremated on Thursday.   Joining the family business in his 20s, Abhey Oswal set up a frantic pace to be counted as one of the high-profile industrials in no time. He set up Oswal Agro Ltd. in 1979 and was active in acquiring ICI's plant near Kolkata, Union Carbide's unit in Mumbai and Jagatjit Industries' sugar mill in Punjab. OSWAL-2 Mohan Dai Oswal Cancer Hospital in Ludhiana by Oswal group was the first cancer hospital in northern India. He also forayed into real estate and had three upcoming residential projects in Ludhiana. He made significant acquisitions, "ICI's plant near Kolkata, Union Carbide's in Mumbai, Jagatjit Industries' sugar mill in Punjab" and got into run-ins with the establishment. OSWAL-1 His elder son, Pankaj, is carrying on his father's legacy in the fertiliser business and has set up one of the world's largest ammonia plants in Perth, Australia. In 2005, he entered the healthcare market, and concentrated on developing life saving medicines, particularly for cancer and diabetes. Mr and Mrs Abhey Oswal have also set up Aruna Abhey Oswal Trust which is backed by a heartfelt desire to serve the society, especially the underprivileged. He is survived by his wife Aruna, two sons Pankaj and Shail Oswal and a daughter Shallu Jindal, who is married to high profile industrialist Navin Jindal.