Oswals, who are currently in India, have said they will relocate to Dubai after their 65 per cent shareholding in Burrup Holdings was placed in receivership, according to Australian news agency AAP.
The couple said they look forward to the sale of Burrup Fertilisers and its still profitable ammonia plant on the Burrup Peninsula in the Pilbara.
The ANZ Banking Group appointed receiver PPB Advisory last month after a stoush between Oswal, who is Burrup's chairman and MD and Norway's Yara International, a 35 per cent shareholder and customer of the ammonia plant.
ANZ, owed hundreds of millions of dollars on the project, has claimed there were evidence of financial irregularities in the business.
Oswals have been building an Indian-style mansion in an expensive Perth suburb of Peppermint Grove overlooking the Swan River of a value of 70 million Australian dollars.
The million dollar domed structure included a temple, a gym, an observatory with a revolving roof and parking for 17 cars and was due for completion in 2012.
According to media reports, the work has stopped on the mansion and the fenced-off site is locked up.
At the weekend, trucks carted off belongings from the Oswals' expensive home in the northern Perth suburb of Dalkeith, where they have been living while the mansion was being built.
Chris Codrington, a spokesman for the Oswals, said no agent had been appointed to sell the place but it was for sale "at the right price".
"One would have to assume that the most likely thing to happen to it is it will be subdivided unless they can find somebody who likes the look of the home," he was quoted.
"It's a very personal thing, the way the Oswals have designed it, very Indian. The Oswals are obviously looking at whatever offers have been made and will make a decision in due course."
In a statement, the Oswals said they had decided to leave Australia because the level of public scrutiny of them was too upsetting for their youngest daughter, who attended school in Perth.
"We are for the time being residing in New Delhi whilst we consider our future in light of the pending sale of 100 per cent of the extremely profitable Burrup Fertiliser business," they said.
"We have many interests in Asia and the Middle East so a relocation to Dubai is strategically on the cards. We will make an announcement when our plans are finalised," they added.