Fri Oct 21 02:36:17 SAST 2016

Pravin Gordhan will go ahead with court bid for declaratory order

By Genevieve Quintal | Oct 19, 2016 | COMMENTS [ 8 ]

Finance Minister Pravin Gordhan will not withdraw his court application for a declaratory order confirming that he cannot intervene in a dispute between the Gupta-owned Oakbay Investments and four major banks.

Oakbay’s attorneys‚ Van der Merwe Associates (VDMA)‚ have notified Gordhan’s legal team that the company intended to oppose the application‚ unless the minister withdrew it and paid the costs by Wednesday afternoon.

Gordhan’s lawyers informed VDMA on Wednesday morning that the application would not be withdrawn.

In a letter to Gordhan‚ VDMA on behalf of Oakbay Investments‚ accused the minister of wasting taxpayers’ money on the application.

VDMA note that to spend taxpayers’ money in a “reckless and inappropriate manner” would constitute a contravention of the provisions of the Public Finance Management Act No 1 of 1999‚ which would warrant “further action against those officials responsible for same“‚ the company said.

It said the purpose of VDMA’s letter and offer to Gordhan was to offer him the “opportunity to save taxpayers’ money“.

Gordhan approached the court on Friday to ask for a declaratory order indicating that he could not interfere in the relationship between the Gupta family and the four major banks‚ which had closed its accounts earlier in 2016. The annexure to the application unveiled about R6.8bn in suspicious transactions from the family accounts.

In his application‚ Gordhan illustrated — by attaching letters former CEO Nazeem Howa‚ who resigned earlier this week — that Oakbay had repeatedly asked the minister to intervene or put pressure on the banks on the company’s behalf.

The Financial Intelligence Centre Act seeks to combat money laundering and terrorism financing. Banks have previously been served hefty fines for failing to uphold the act’s provisions.

VDMA have accused Gordhan of making “defamatory and untrue remarks towards members of the Gupta family by insinuating that they have been involved in inappropriate conduct“.

TMG Digital


Login OR Join up TO COMMENT


Since when does this family care about public money, Pravin must just do whatever he thinks needs to be done under the circumstances, NNXXAAAMMM!

Oct 19, 2016 7:53 | 1 replies


Does Pravin really need an order not to intervene? This is a waste of public money and state resources by the minister to further rubish the Guptus.

Oct 20, 2016 4:20 | 1 replies


I too wonder if its necessary. Because hes been refusing to intervene anyway so just keep refusing.

Oct 20, 2016 7:30 | 0 replies


Please forgive me for those this hurts but one that never appreciates, never has someone to give them. this Lady my hero helped me a lot and moved me from the pit i was in, the life that i had lived for so many years was miserable. I worked but never got promoted, my mother was home suffering from cancer and looking at me as her only hope for financial aid sending her all my earnings for treatment, i have two boys and my husband who was not working, the salary i was paid was not enough for the responsibilities i had. One day as I was reading an article and saw a lady testifying and thanking some spiritual healer mama Anisha for helping her, this woman said alot of things but what touched me most was:- "WHOEVER OUT THERE READING THIS, DO NOT SIT BACK AND WAIT FOR YOUR LIFE TO CHANGE BUT TAKE A BOLD STEP INTO CHANGING YOUR LIFE YOURSELF", those words were deeply engrossed in my mind, I also decided to change my life so I contacted mama Anisha and told her all the troubles in my life, I did everything she asked me to do, she cleansed me of all bad omens in my life and performed a very powerful spiritual prayer. What surprised me most, I was promoted to assistant manager at the company where i work, I won some money from lotto that helped me to change my family's life, I had played a lot of times with no luck at all. Like i promised Mama Anisha my hero that if she helped me i would tell every one about it. I believe 100% that there is no problem she cannot solve,if you have any problem contact her on "Do not hesitate to contact her because i believe fate as guided your steps if you are reading this, your meeting are private. her number: +27633057243".

Oct 19, 2016 9:49 | 0 replies


If you are struggling,unhappy with anything,problems call +27625 901971,healer ngobi powerful traditional healer.thank you for your magic oil is changeing my life thank you alot

Oct 20, 2016 6:33 | 0 replies


Research proposal make your order right now and our best writers will start to work on it at once. Many students think that to create a Research Proposal is quite an easy task. But it should be taken very seriously as you will need all your efforts in order to complete it in time. Especially if you are short of time. If you want your written work to be done in time, please do not put off to contact our representative and to order your Research Proposal. We will choose the best writer for you with the specialization in the certain area of knowledge. You will get your written work done and formatted according to the requirements of your institution just in +27813051764..

Oct 20, 2016 6:39 | 0 replies


VDMA and the guptas are desperate

Oct 20, 2016 7:7 | 0 replies


Why is Pravin not investigating Standard Bank and MTN for their involvement in the $12 Billion that left Nigeria? Is this because he is still friends with No2 and it could involve Shanduka? and he is hoping that No2 will help him back stab his old friend No1.

Oct 20, 2016 8:58 | 0 replies