Judgment reserved in Gordhan/Gupta banks case
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Finance Minister Pravin Gordhan, the big four commercial banks and Gupta-owned companies will have to wait a little while longer for a resolution to their dispute.
The Minister approached the courts for a declaratory order saying he can't intervene between the companies and South African banks, who closed all Gupta owned companies' accounts about a year ago.
Maryke Vermaak reports that judgment was reserved in the Pretoria High Court yesterday.
The finance ministry will today respond to a court application by Vardospan for a declaratory order relating to its bid to buy Habib Overseas Bank. This was the deadline for National Treasury to file papers in reply to Vardospan, who went to court on Monday in apparent frustration at its failure to secure approval for the acquisition.
Vardospan is seeking an explanation as to why the South African Reserve Bank, the Registrar of Banks and Gordhan have not yet pronounced on the deal.
However, National Treasury said because of the relatively low figures involved, the decision was not that of Gordhan, but of the Reserve Bank. The minister could only say whether he concurred or differed.
The Minister approached the courts for a declaratory order saying he can't intervene between the companies and South African banks, who closed all Gupta owned companies' accounts about a year ago.
Maryke Vermaak reports that judgment was reserved in the Pretoria High Court yesterday.
The finance ministry will today respond to a court application by Vardospan for a declaratory order relating to its bid to buy Habib Overseas Bank. This was the deadline for National Treasury to file papers in reply to Vardospan, who went to court on Monday in apparent frustration at its failure to secure approval for the acquisition.
Vardospan is seeking an explanation as to why the South African Reserve Bank, the Registrar of Banks and Gordhan have not yet pronounced on the deal.
However, National Treasury said because of the relatively low figures involved, the decision was not that of Gordhan, but of the Reserve Bank. The minister could only say whether he concurred or differed.
