Indian tycoon's Taj style mansion likely to go under hammer

An Indian tycoon's palatial mansion here billed as 'Taj Mahal on the Swan' worth a staggering 70 million Australian dollars may come under the hammer as its owner's company has been placed in receivership.

Perth-based tycoon Pankaj Oswal is likely to put his partially-built riverside house on sale after his fertiliser company 'Burrup Fertilisers' was placed in receivership, media report said.

Dubbed as the 'Taj-Mahal-on the Swan', Oswal's residence is among the most expensive houses in Australia which is being built in the style of Indian architecture in the well-heeled Perth suburb of Peppermint Grove overlooking the Swan River.

According media reports, the Oswals are considering selling the property if they are offered a good price.

The million dollar domed structure is due for completion in 2012 and includes a temple, a gym, an observatory with a revolving roof and parking for 17 cars.

Chris Codrington, a spokesman for the Oswals, said "It's not...
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