South Africa's Treasury on Friday supported a court application by Finance Minister Pravin Gordhan linking Oakbay Investments and its owners, who have close ties to President Jacob Zuma, to suspicious transactions.
Treasury backs Gordhan's affidavit on Gupta-owned companies
The Gupta-owned Oakbay has said the Gordhan affidavit is flawed, and that they would challenge it in a court.
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Gordhan said in a court affidavit that 6.8 billion rand ($485 million) in payments made by Ajay, Atul and Rajesh Gupta and companies they control and other individuals with the same surname had been reported to authorities as suspicious since 2012.
"This will provide an opportunity for all issues to be properly ventilated in an open court," the Treasury said in a statement.
($1 = 14.0277 rand)
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