Gupta’s application to halt freezing of assets dismissed

The Bloemfontein High Court has dismissed the Guptas’ application to halt the freezing of the family’s assets.

This after a Gupta-owned company Islandsite Investments approached the Supreme Court of Appeal on Thursday in an attempt to overturn the decision of the high court on the legal representation of the company.

The Gupta family wanted time to resolve a clash on whether the board of directors or business rescue practitioners should represent the company at the Bloemfontein High Court, where the National Prosecuting Authority (NPA) is bidding to retain its assets.

The court heard arguments on Thursday in confirmation of the restraint order granted in favour of the NPA to restrain the assets of Iqbal Sharma, and Islandsite, which belong to Atul and Rajesh Gupta and their wives Chetali and Arti Gupta, respectively.

The NPA investigating directorate spokesperson Sindisiwe Seboka said on Wednesday: “The interim restraint order was granted in June 2021 in terms of the Prevention of Organised Crimes Act.

“On 11 August 2021, Musi JP held that the attorneys for the directors of Islandsite [BDK] do not have authority to act on behalf of Islandsite in the proceedings in the Nulane restraint application.

“The directors applied for leave to appeal the ruling. The ID opposed their application. It was heard by Mbhele AJP on 25 February 2022. On 28 April 2022, Mbhele AJP refused the directors of Islandsite leave to appeal.”

Also read: NPA applies to court in bid to retain Gupta assets

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