The National Prosecuting Authority (NPA) would on Thursday apply to retain assets belonging to the Gupta brothers and their associate Iqbal Sharma.
The Bloemfontein High Court is expected to hear arguments in confirmation of the restraint order granted in favour of the NPA to restrain the assets of Sharma, his company Nulane Investments 204 (Pty) Ltd, and Islandsite Investments 180 (Pty) Ltd, which belong to Atul and Rajesh Gupta and their wives, Chetali and Arti Gupta, respectively.
NPA investigating directorate (ID) 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.”
Seboka explained that the order applies to assets in South Africa that include all properties of Islandsite, Sharma and his wife Tarina Patel-Sharma, and any property held by Sharma’s companies, including two registered in the United Arab Emirates.
According to Seboka, Sharma’s assets include his Sandton home valued at over R12-million. The property, which is owned through a UAE-registered company, was featured on a lifestyle television programme and Top Billing.
Other assets include R500 000 worth of movable property and a R1.3-million sectional title home in Sandton. Properties owned by the Gupta family company Islandsite include a R21-million house in Constantia near Cape Town and another one worth R12-million in Saxonwold, Johannesburg.