Gupta lawyer says Bank of Baroda fails to prove reputational harm
The Bank of Baroda has failed to prove that it is suffering reputational harm by a continued association with Gupta family businesses‚ it was argued in the high court in Pretoria on Friday.Legal counsel for 20 of the Gupta family businesses‚ who are applying for an urgent interdict to prevent the closure of bank accounts at the end of September‚ argued that Baroda had declared the Gupta family accounts as high risk 18 months prior to providing notice of termination of the accounts.This‚ the court heard‚ meant the reputational harm the bank cited as a reason for the closure‚ had already been incurred.The urgent application was brought‚ it emerged in court‚ because the main application for an interdict launched in August can only be heard on December 7 — at which time the bank accounts would already have been closed. The Gupta family businesses are now seeking interim relief to stop the closures until they have been granted a fair trial.The heads of arguments and annexes of both parti...
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