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Gupta allies approach the courts to buy a bank

30 March 2017 12:54 PM
An urgent High Court application launched to get the SA Reserve Bank to sign off licence for Vardospan to buy Habib Overseas Bank.

According to EWN reporter Barry Bateman, there has been an urgent High Court application to get the South African Reserve Bank and the Registrar of Banks to sign off a deal to buy the Habib Overseas Bank by the Guptas allies Vardospan owners, Hamza Farooqui and Salim Essa.

He says the deadline for the deal is Friday 31 March.

Bateman says the Guptas have been relying on their overseas accounts to be able to facilitate business since their accounts were closed in 2015 in South Africa.

There are reports that the Guptas are about to loose their bank account in South Africa as Bank of Baroda is about to close its account.

To hear more of this report, listen below:


This article first appeared on CapeTalk : Gupta allies approach the courts to buy a bank


30 March 2017 12:54 PM