After a little more than a month‚ business rescue practitioners for eight of the Gupta family companies have revealed some of their plans to save them. In a series of letters addressed to creditors of the various entities on Monday, which TimesLIVE has seen‚ the business rescue practitioners Louis Klopper and Kurt Knoop requested an extension for the deadline for publishing the business rescue plans. The plans were due to be published on Tuesday but an extension will see the final plans published on or before April 25. The first letter is about the Gupta-owned Shiva Uranium near Klerksdorp in the North West, for which it is revealed there are two potential buyers. Netoil Enterprises has offered $5m‚ roughly R600m‚ while BEK Holdings has offered $35m‚ or R410m. The offers are subject to due diligence proceedings and conditions‚ and have not been finalised. The Guptas bought Shiva for R250m in 2010 with a loan from the Industrial Development Corporation (IDC). The inflated price may b...
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