Ajay and Atul Gupta File picture: Independent Media

CAPE TOWN - Oakbay has released a statement welcoming the ruling by the North Gauteng High Court and the award of costs. 

Earlier in the day, Judge Ledwaba stated that former finance minister Pravin Gordhan’s application is denied and that he will have to carry the costs incurred.

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The company states that the application by the former Finance Minister was a waste of valuable court time, especially as it was brought at the taxpayers' expense. 

Oakbay went on to say they are grateful and have faith in SA’s judiciary system and the independence it has exhibited today.  

In particular, the company noted the Court's comment that “it is not appropriate for a Member of the National Executive to draw the judiciary into the exercise of his executive functions as evinced in this application.”

The full costs awarded to Oakbay will be used for a new project concerning the funding of underprivileged university students in South Africa.

-BUSINESS REPORT ONLINE