PERTH-based Indian tycoon Pankaj Oswal flew to Dubai on the weekend, leaving behind a web of intrigue about how a seemingly profitable fertiliser empire can owe hundreds of millions of dollars.
Bank-appointed receivers began combing through documents to search for any evidence of misuse of Burrup Fertiliser funds on Friday, after Mr Oswal lost control of the business that he founded.
Australia and New Zealand Banking Group has said it expects to make a full recovery of its funds, thought to total about $800 million, from Burrup and Mr Oswal's family.
Receiver PPB Advisory has spent the weekend at Burrup's offices in Perth after a stoush between disgruntled shareholders left the company, which produces a lucrative fertiliser ingredient, in a state of flux.
PPB principal Ian Carson said that his team was looking at director expenses and all related-party transactions as part of the receivership.
