Guptas got involved in the issues of Zuma and Gordhan


Guptas got involved in the issues of Zuma and Gordhan

Finance Minister Pravin Gordhan approached the court after the Gupta family’s request that he intervene in its fight to have 4 major banks re-open their accounts.

The legal battle between the Finance Minister and the Gupta family is to take centre stage on Tuesday, with fresh allegations that Pravin Gordhan’s action is a strategic attempt to undermine President Jacob Zuma.

The minister approached the court after the Gupta family’s request that he intervene in its fight to have four major South African banks re-open their accounts.

The financial institution’s cut ties with the Gupta companies, citing associated reputational and business risk.

Gordhan wants the court to declare that he doesn’t have the authority to intervene in the matter.

In papers filed by Gupta-owned Sahara Computers on Monday, they say the parties do not dispute that Gordhan doesn’t have the power to intervene in the matter between the Guptas and the banks.

The company questions why Gordhan is persisting with this matter despite there not being a dispute between the parties.

Sahara says the minister seemingly believes it will not be in South Africa’s best interests if the banks are subjected to scrutiny and accountability being contemplated by Cabinet and President Zuma.

Key to Gordhan’s application, and which may still prove to be damaging to the Gupta family, is a Financial Intelligence Centre reportwhich alleges that Gupta companies made more than 70 suspicious transactions amounting to more than R6 billion.

Original source : ewn

Read Also: Julius Malema exposed by minister Mokonyane

South African Finance Minister Pravin Gordhan delivers his 2016 Budget speech to parliament in Cape Town, February 24, 2016. Barclays’ decision to sell down its stake in a Johannesburg-listed venture is a consequence of past mistakes at European banks rather than a reflection of Africa’s future prospects, South Africa’s finance minister said. Picture taken February 24. REUTERS/Mike Hutchings

Comments

comments