Guptas want seized assets unfrozen
Court application to reverse order
The Guptas say the state has no prospect of convicting them on any criminal charges linked to the socalled Estina Dairy Project scam – and that the latest state bid to freeze assets allegedly linked to that “scam” is baseless and “an abuse of process”.
They’re fighting to overturn the freezing of 43 residential‚ farm and business properties‚ two aircraft‚ a helicopter‚ a Porsche‚ Lamborghini‚ Range Rovers and other cars, and bank accounts belonging to Oakbay Investments and Sahara Computers.
The case is expected to be heard next week‚ and will be key to the state disproving the Guptas’ vocal stance that they are winning their litigation war with the “recklessly incompetent” National Prosecuting Authority (NPA).
The Guptas said prosecutions head Shaun Abrahams’s case for the latest freezing of R180-million in assets is “based… on hearsay and incomplete‚ inaccurate and misleading allegations” and “deeply and fundamentally flawed”.
They further insisted that‚ if the NPA had conducted “an objective and unbiased investigation”‚ it would have discovered that the “flow of funds” evidence that it used to freeze the Gupta assets was “entirely innocent” and can be explained. These “innocent explanations” relate specifically to evidence that Estina’s sole director paid millions to the Gupta-linked Oakbay‚ Annex Distribution and Aerohaven companies.
In an affidavit filed at the Bloemfontein High Court‚ acting Oakbay CEO Ronica Ragavan said the NPA’s latest successful bid to restrain Gupta-linked assets was the second attempt by the state “to gain control of the assets.”
Ragavan said‚ following an application for the reconsideration of the freezing of R220-million in assets identified as the “proceeds of crime” earlier this year‚ the Bloemfontein High Court reversed the bulk of that original order.
Judge Fouche Jordaan found that although certain Gupta-linked transactions may be suspicious‚ it was not shown that Atul Gupta or any Gupta entities got money directly from the Estina project in the Free State.
He relied on evidence produced by the Bank of Baroda showing that there was no evidence that money deposited into the Estina account had flowed directly to Atul Gupta or other Gupta entities.
Jordaan said: “There’s no rationale and rational basis for concluding that the amounts paid to Oakbay and Aerohaven stem from the Estina deposit‚ and not other deposits.”
Ragavan now argued that it appeared the only reason the state was successful in getting that first Estina freezing order was because it was bought ex parte – and the individuals and companies targeted were not given a chance to defend themselves.
Just over a month after Jordaan reversed that first order‚ the state again successfully applied for the freezing of various Gupta-linked assets that it claims are linked to its Estina case. Again‚ this application was bought without the Gupta entities being notified. And‚ again‚ they are fighting for its reversal.
The state argued that the assets could be confiscated if the Gupta family members and associates were convicted of the criminal charges they face in relation to the Estina “scam”.
The NPA is opposing the application.