Jugdgment was reserved in Gordhan/Oakbay debacle

Finance Minister Pravin Gordhan Picture: Simphiwe Mbokazi/Reuters

Finance Minister Pravin Gordhan Picture: Simphiwe Mbokazi/Reuters

Published Mar 29, 2017

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Pretoria – Judgment was reserved in the legal battle by Finance Minister Pravin Gordhan for a declaratory order that he was not obliged to interfere in the private banking affairs of the Gupta-owned Oakbay companies and four of the country’s major banks, after it had closed these accounts.

Pretoria High Court Judge President Dunstan Mlambo late on Wednesday afternoon following the second day of legal arguments, said he was in fact ready to deliver his order. As he is hearing the matter together with two more judges, he said he will reserve judgment, but promised not to deliberate too long on the matter, as he realised it was fairly urgent.

The court was meanwhile told that Gordhan was using the court as a pawn for his own political purposes.

This is according to Advocate Rafik Bhana, acting for Gupta owned company Sahara.

Bhana argued that the law is clear that the minister could not legally interfere in the banking affairs of the Oakbay group of companies. He questioned the real reason for Gordhan approaching the court to have this legal fact reaffirmed,

Bhana admitted that Gordhan, after the closing of the accounts, was on numerous occasions approached by Oakbay representatives to intervene. “But this was only for help to save jobs. It was not a demand on the minister to act because they (Okakbay) is entitled to it. It was a vry for help within the legal parameters,” Bhana said.

Judge President Dunstan Mlambo questioned whether Gordhan was asked to intervene to ensure that the accounts are not closed. Bhana said Oakbay representative Nazeem Howa at the time ask Gordhan for any possible help. “It was a simple request. A cry from the heart.”

Judge Mlambo again wanted to know whether this was to tell the banks not to close the accounts.

Bhana responded that this was a never a demand, simply a request. This prompted Judge Mlambo to remark: “You recognise that he (Gordhan) has no power (to interfere), yet you still ask him for assistance?”

Bhana, however, was adamant that Gordhan used this court application as a platform to place certain private information regarding the Oakbay accounts into the public domain. He said Gordhan should pay the legal bill from his own pocket.

Pretoria News

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