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.
South Africa's Finance Minister Pravin Gordhan gestures as he arrives to deliver his 2016 budget address to the parliament in Cape Town, February 24, 2016.
Recommended articles
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)
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
FG approves salary increase for civil servants
Reverse hike in electricity tariff or face lawsuit - NBA threatens DisCos
Badagry residents stranded as petrol hits ₦1,000 per litre amid fuel scarcity
NNPC staff alleged of luxury acquisition of properties threatens lawsuit
Ogun Govt warns residents on impending flood disaster, urges relocation
15-yr-old girl predicts her JAMB score but scored 12 marks below prediction
Workers Day: FG declares May 1 public holiday
Sanwo-Olu grants ₦849.5m scholarships, bursaries to 10,000 tertiary students
Wike orders urgent repairs for Dogon Gida Culvert to prevent loss of lives
ADVERTISEMENT
