Gupta ally seeks declaratory order in bid to buy Habib Overseas Bank

Speaking to Redi Tlhabi, EWN's Barry Bateman sheds light on the Gupta Family's attempt to buy Habib Overseas Bank.

Bateman explains that Vardospan is the company that wants to buy the Habib Overseas Bank.

Salim Essa is the majority shareholder in Vardospan and other Gupta-owned companies.

Bateman says that Vardospan is seeking an explanation from the courts as to why the South African Reserve Bank, the Registrar of Banks and Finance Minister Pravin Gordhan have not yet pronounced on the deal to buy Habib Overseas Bank.

When banks close your accounts, what's the next best thing to do, you buy a bank.

Barry Bateman, EWN Reporter

Listen to Bateman explain the roles of treasury and the Finance Minister in this case:


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An urgent High Court application launched to get the SA Reserve Bank to sign off licence for Vardospan to buy Habib Overseas Bank.

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