Politically Motivated Attack: Vasundhara Oswal Speaks Out After Release From Detention in Uganda

New Delhi: Days after Indian-origin billionaire Pankaj Oswal’s daughter Vasundhara Oswal was released on bail from detention in Uganda, she has spoken about the incident for the first time publicly in a social media post on Instagram since her release. Oswal, the Executive Director of PRO Industries, in a post shared on social media, spoke about the harrowing experience of getting detained in Uganda, revealing that she was wrongfully accused of the crime which was a politically motivated attack.

Oswal’s social media post implied that the charges were fabricated, accusing political and business competitors of orchestrating the incident in a bid to undermine her business. Notably, the charges against Vasundhara shocked everyone, when she was arrested and charged with an "attempt to murder" of a man. However, after the man, whose attempted murder charges were implied in the case, was found alive in another country. This cast a doubt on the credibility of the allegations and the case.

Oswal Claimed Her Detention Was Part of Conspiracy to Damage Her Business Interests

"I somehow managed to find the courage to write and create this post today," Oswal wrote. "Though my younger sister was pressuring me to create it straight after I was released on bail, it was difficult opening up my Instagram or communicating with my friends or family." She further expressed that much of what had happened still remained difficult to explain and that she had been forced to contend with fabricated charges under immense political pressure.

Oswal suggested that her detention was part of a larger conspiracy to damage her business interests, particularly as her company, PRO Industries, had started making significant inroads into Uganda’s competitive market. She accused several high-profile businessmen of using their influence to target her, pretending to offer support during her detention while secretly working against her.

“First a false charge of “attempt to murder” was put on me and then they found the guy alive in another country after throwing me in jail. Fabricated and exaggerated beyond doubt by political pressure put by business competitors (few of which pretended to help my release and even visited me during the time I was detained by the police under the pretense of being my allies),” she stated.

Describing Uganda as a "mafia state," Oswal raised concerns about the safety and feasibility of conducting business in the country. She noted that the ordeal had made her rethink plans to expand her business in the region. "It has definitely made us think twice about setting up larger-scale projects in the country," she added.

Despite the ordeal, Oswal's resolve remains unshaken. She firmly stated that the businessmen behind the alleged plot would never gain control of PRO Industries, despite their attempts to trade her freedom for shares in the company.

The incident has sparked outrage among some local observers, who believe it highlights deeper issues of corruption and political interference in Uganda's business environment.

About Vasundhara Oswal and Charges Against Her

Vasundhara Oswal, the 26-year-old daughter of Indian-origin Swiss billionaire Pankaj Oswal, was arrested in Uganda on October 1, 2023, and spent over three weeks in custody. She faces serious charges of kidnapping and attempting to kill Mukesh Menaria, a former employee who had worked on her family’s private jet and provided domestic assistance at their residences globally.

Vasundhara’s father, Pankaj Oswal is the son of industrialist Abhay Kumar Oswal, founder of Oswal Agro Mills and Oswal Greentech. The Oswal Group Global is involved in the business of petrochemicals, real estate, fertilisers, and mining.

The Oswal family claims that the allegations against Vasundhara stem from a former employee who took out a $200,000 loan from them. They assert that the accusations of kidnapping and murder were fabricated as a means to avoid repaying the loan.

Mukesh Menaria, the man Vasundhara is accused of murdering, was reportedly found alive in Tanzania, leading to questions about the validity of the charges against her. Vasundhara’s sister Riddhi Oswal noted that Menaria provided a notarised affidavit stating that he had not been mistreated by Vasundhara or her family. Despite this evidence, Ugandan authorities have not acknowledged the claims.

In light of the situation, the Oswal family filed an urgent appeal with the United Nations on October 11, seeking intervention in the case. Riddhi expressed gratitude for the media and the UN's support.

According to reports, Vasundhara was in Uganda as part of the Group’s $100 million investment to establish East Africa’s first grain-based Extra-Neutral Alcohol (ENA) production facility.

In an open letter to Ugandan President Yoweri Museveni, Pankaj Oswal urged to restore her personal freedom, claiming the charges against his eldest daughter stemmed from a former employee taking a loan of $200,000 from the family. The former employee accused Vasundhara of kidnapping with intent to kill, but the billionaire Oswal family claims these charges are trumped up by the ex-employee to avoid paying the loan.

“The worst part - the man she has been accused of kidnapping and murdering, the one on whom this entire case is falsely based, was already found in Tanzania, in state custody, and awaits his own investigations there. When Tanzanian authorities apprehended him, he was found with his passport, clearly indicating that he was not kidnapped. And definitely isn’t murdered,” Ridi Oswal said in her Instagram post.