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Gupta-linked companies have accused the South African Reserve Bank of pressuring the Bank of Baroda into closing their bank accounts and bringing about the family’s demise.
This is according to court papers lodged by the 20 companies in their final bid to have the courts interdict Baroda from closing their accounts.
The Reserve Bank, which regulates the banking sector in SA, and the registrar of banks are respondents in the matter.
In October, the High Court in Pretoria gave the companies 15 days to launch their final application, and in the meantime ordered that the Bank of Baroda keep the accounts open.
The Bank of Baroda is the last financial institution to provide the Guptas with bank accounts, after four local and two international banks cut ties. Baroda has been accused of helping the family launder money.
In her founding affidavit, Ronica Ragavan, acting Oakbay Investments CEO and director of nine of the companies, said it was apparent that Bank of Baroda had been "materially...
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