Tegeta Exploration and Resources has for the third time applied for the liquidation of the Gupta family’s Oakbay Investments, saying that it is owed R400m.

In the founding affidavit filed with the Johannesburg high court earlier this month, Tegeta Exploration and Resources, which has been in business rescue for almost two years, asked that Oakbay Investments be wound up as it is unable to pay its debts.

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