Gordhan sticks to his guns on Gupta court application

FINANCE Minister Pravin Gordhan is not backing down on his court application against the controversial Gupta family.

He has refused to withdraw his application despite threats by the Guptas’ lawyers to do so or face them in court.

The Guptas’ lawyers said they had written to Gordhan to withdraw his application in which he is seeking a declaratory order that he is not allowed to intervene in the Guptas’ disputes with the major banks. But the bone of contention is the details of transactions amounting to R6.8 billion in the Guptas’ accounts that the banks and the minister deem suspicious.

These are attached to Gordhan’s affidavit, and have lifted the lid on some of the reasons the four biggest banks closed off the Guptas’ accounts.

The revelations by the minister have placed tremendous pressure on the Guptas and their allies, and more information of their alleged influence over top politicians is expected in the state capture report by the public protector.

The chief executive of their Oakbay business empire, Nazeem Howa, resigned on Monday, the day after it was revealed he had been pressuring Gordhan to intervene in Oakbay’s fight with the banks.

The Guptas’ lawyers, Van der Merwe Associates, confirmed yesterday that Gordhan’s lawyers had turned down their demand to withdraw the application.