The country’s four major banks have until Friday to indicate whether they will oppose Finance Minister Pravin Gordhan’s case on their decision to close down the Gupta-owned Oakbay Investment accounts. Gordhan wants the High Court in Pretoria to declare that he is not legally empowered to intervene in the relationship between the Guptas, their companies and the banks. The notices signalling an intention to oppose will give some indication of the attitude of the Guptas and the banks to the bombshell court application, filed by Gordhan last week. In his application, Gordhan revealed about R7bn worth of "suspicious and unusual" transactions by the Gupta family and their companies that were reported to the Financial Intelligence Centre (FIC) from 2012. The Guptas’ lawyers have already indicated they would oppose the application and have defended their transactions.
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