Judgment day for Guptas as court to rule on urgent Bank of Baroda interdict
The Pretoria High Court will on Thursday hand down judgment in an urgent application for an interdict brought by 20 Gupta family companies to halt the closure of their last remaining bank accounts in SA. The application is for interim relief to stop the Bank of Baroda from closing the family’s business and loan accounts at the end of September. The family wants the court to grant an interdict to delay the closing of accounts until December 7‚ at which time their main application to challenge the closures is scheduled to be heard. Counsel for the Gupta family argued the Bank of Baroda would not suffer any reputational harm between now and the time of the main application. They also repeatedly indicated that roughly 7‚500 employees will suffer prejudice‚ as the family would not be able to transfer money to their pay agent so that salaries could be distributed if the accounts were closed.The most damning argument the Gupta family has to defeat came from Baroda counsel Dennis Fine SC.Fi...
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