Win for Guptas as court interdicts Bank of Baroda from closing accounts
The companies are arguing that closing the bank accounts will have dire consequences for the people they employ
In a victory for the Gupta family, the High Court in Pretoria has interdicted the Bank of Baroda from closing 20 Gupta-linked bank accounts pending the final outcome of their main application. The companies approached the court in September in a bid to have the date of the main application, which was meant to be heard in December, brought forward. Judge Tati Makgoka on Monday ordered that the bank not deactivate or close the companies accounts in the meantime. He also ordered that the Gupta companies lodge their final application within 15 days of his judgment. "The interim order shall lapse if the applicants [companies] fail to launch the application in the timeframe stipulated," he said. The court was set to hear the main application in December but the companies argued that if the matter was heard after the accounts had already been closed the court would not be in a position to grant an effective remedy, or any at all. The Bank of Baroda was set to close the business and loan ac...
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