Sarb probes In­dia’s Bank of Bar­oda

The Citizen (KZN) - - BUSINESS -

In­dia’s Bank of Bar­oda is be­ing in­ves­ti­gated by SA’s cen­tral bank over money held for com­pa­nies con­trolled by the po­lit­i­cally con­nected Gup­tas.

The Sarb’s probe was sparked af­ter the Or­gan­i­sa­tion Un­do­ing Tax Abuse al­leged in court pa­pers that mine-re­ha­bil­i­ta­tion funds held for two of the Gup­tas’ com­pa­nies had been mis­man­aged and used to re­pay loans. – Bloomberg

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